NBU receives documents from Tigipko to approve purchase of PIB.

Interfax-Ukraine

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The National Bank of Ukraine (NBU) has received a package of documents from Ukrainian businessman Serhiy Tigipko to approve the acquisition of Prominvestbank (PIB, Kyiv), the NBU press service told Interfax-Ukraine on Monday.

The bank's press service has not yet been disclosed more details about the relevant application for approval.

The Antimonopoly Committee of Ukraine (AMC) has approved the acquisition of Prominvestbank (PIB, Kyiv) by the Cypriot company Luregio Limited, the ultimate beneficiary of which is Ukrainian businessman Sergiy Tigipko, through the purchase of Financial Company Fortify LLC. The committee voted for this decision at a meeting on October 8.

According to the report of the Antimonopoly Committee, in both cases the matter concerns acquisitions that will provide the buyer with over 50% of the voting shares on the company's board.

In accordance with the information in the state register, Luregio Limited registered Luregio Invest LLC with a charter capital of UAH 350 million on August 28 this year. Its core business is consulting and management, provision of financial services and other auxiliary commercial services.

Liudmyla Nazarenko, who was the deputy director for legal issues of TAS Group LLC and a member of the supervisory board of Universal Bank owned by Tigipko, was appointed head of the enterprise.

PJSC Prominvestbank was founded in 1992. VEB became the owner of Prominvestbank in 2008. It owns 99.7726% of its shares. VEB estimates its investments in the development of the subsidiary bank at $2.7 billion.

According to the National Bank of Ukraine, as of June 1, 2020, in terms of total assets (UAH 40.611 billion), Prominvestbank ranked 12th among 75 operating banks.

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