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Ukrainian Group DF acquires Pravex-Bank from Intesa Sanpaolo.

January 26, 2014

The Group DF has acquired the 100% stake in Kyiv -based Pravex-bank from Intesa Sanpaolo group, the company's press service has announced. The deal was valued at EUR 74mn , writes Interfax Ukraine. The acquisition of the bank is in line with the strategy of the group on development of the banking business, which is one of the top-priority ones for the group, commented on the acquisition, managing director of the Group DF Borys Krasnianskyi stated. Thanks to the deal, the banking business of the group will considerably be expanded in retail sectors of the banking market. The outlet network of the bank consists of 260 departments. Group DF, controlled by Ukrainian tycoon Dmitry Firtash is a diversified international group, whose business is represented in 11 European and Asian countries. The group is mainly engaged in nitrogen, titanium, gas and banking businesses.

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Source: IntelliNews - Weekly Reports

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