Competition agency permits Oschadbank to receive control over assets of Niteko
The Antimonopoly Committee of Ukraine has permitted state-owned Oschadbank (Kyiv) to gain control over assets of Niteko LLC (Kyiv). This allows the bank to carry out economic activities and lease offices, retail premises and provide hospitality services, the committee has reported on its website.
The committee also permitted Niteko to carry out economic activities and lease offices, retail premises and provide hospitality services via getting the right to use the assets.
The press service of Oschadbank told Interfax-Ukraine that the permits are linked to the financial restructuring of Niteko.
"There are several options for this restructuring. The decision of the Antimonopoly Committee is required to implement one of the possible scenarios," the press service said.
According to a posting on the website of the administrative secretariat at the Independent Association of Banks of Ukraine (NABU), which oversees the financial restructuring system, Niteko LLC on September 1, 2017 submitted an application for restructuring of its liabilities to Oschadbank using the procedure described in the law on the financial restructuring.