Smart Holding has reached an agreement with Commerzbank on the purchase of Forum Bank
July, 30, 2012, Kiev – Smart Holding has reached an agreement with Commerzbank on the purchase of its stake of around 96% in Ukraine’s Bank Forum. It has been agreed that confidentially be maintained on contractual details. The transaction is still subject of approval of the regulatory authorities.
“Purchasing of Forum Bank is in line with Smart Holding General Group Strategy and its banking business. Bank has a stable financial situation and effective corporate governance structure which is satisfied with the best banking practice. This deal will allow us to get the leading position in banking market of Ukraine. We sure about the potential of Forum Bank and Ukrainian banking sector in general”, – said Aleksey Pertin, Chief Executive Officer of Smart Holding.
After the closing of this transaction Smart Holding will present an updated Strategy for Bank Forum.
About Smart Holding
Smart Holding is one of the largest investment groups in Ukraine with focus on key industries of the economy, including metals & mining, oil & gas, shipbuilding, real estate and agriculture.
Smart Holding’s strategy is aimed at efficient management of diversified portfolio of the Group’s assets by increasing its cost in the long run and search of new directions for business development. Smart Holding’s investment activities are focused on the investments both in Ukraine and CIS and Eastern Europe countries.
Smart Holding participates in the projects as a strategic and portfolio investor. www.smart-holding.ua