The takeover of Ukrainian Public Joint Stock Company (PJSC) Bank Forum by the investment group Smart Holding agreed earlier this year was successfully closed on 30th October 2012.
The regulatory authorities approved the transaction. The law firm Wilhelm advised the Kiev-based investor Smart Holding on the purchase of the bank from Commerzbank AG. On 30th July 2012 the parties had agreed on the acquisition of Commerzbank’s stake in PJSC Bank Forum of approximately 96 per cent.
With about 500,000 clients and more than 100 branches, PJSC Bank Forum is one of the largest banks in the Ukraine for private and corporate customers. Commerzbank held the majority stake in the bank since 2008.
Lars Winkler and Dr. Friedrich Isenbart of the Wilhelm practice group Corporate/M&A advised on the drafting and negotiation of the sale and purchase agreement in the Ukraine and Germany in cooperation with the Ukrainian law firm Engarde.
Press release (PDF)