Kiev, 5 February – Smart-Holding and the shareholders of BM Bank (Kiev) have signed a memorandum with indicative terms of the transaction for purchase and sale of 100% shares in the financial institution.
The CEO of Smart-Holding, Alexey Pertin, and the President and Chairman of the Board of Bank of Moscow, Mikhail Kuzovlev, signed the memorandum on 4 February.
The document formalizes essential conditions for purchase and sale of the bank’s shares. In particular, the parties agreed to enter into a framework contract before 1 April 2013. The price and other details of the transaction are not disclosed.
Smart-Holding has applied for the transaction approval by the regulatory authorities.
BM Bank has been operating on the Ukrainian market since 2005. It belongs to the group of the middle-sized banks according to the classification of the National Bank of Ukraine. The authorized capital stock of BM Bank is UAH 579,667,850.00. The share of Bank of Moscow (Open Joint-Stock Company) in the authorized capital is 99.95%, and the share of BM Holding AG is 0.05%. Currently, the bank has 35 departments in Ukraine. For more information about BM Bank, please visit http://www.bmbank.ua.
Smart-Holding is one of the largest investment groups in Ukraine with focus on key industries of the economy, including metals and mining, oil and gas, banking sector, shipbuilding, real estate and agriculture.
Smart-Holding’s strategy is aimed at efficient management of a diversified portfolio of the Group’s assets by increasing its value in the long run and by searching for new business development directions. Smart-Holding’s investment activities are focused on the investments both in Ukraine and in the countries of CIS and Eastern Europe. Smart-Holding participates in the projects as a strategic and portfolio investor.
For additional information, please visit: www.smart-holding.com