Deal to buy 100% of Idea Bank by Dragon Capital terminated

12:33, 25.06.2020 1 min read

The deal with a private investor to acquire a 100% stake in Ukrainian Idea Bank (Lviv) by Dragon Capital from Poland's Getin Holding S.A. was terminated, according to a statement of Getin Holding on the Warsaw Stock Exchange.

"The Management Board of Getin Holding S.A… informs that as of June 25, 2020 conditional sale agreement of 100% shares in Idea Bank… concluded on December 20, 2019 by the Issuer, as the seller, with Dragon Capital Investments Limited and a natural person as buyers (including Buyer 1) and Dragon Capital LLC as a broker, was terminated due to failure to comply with the condition precedent, i.e. the Issuer and Buyer 1 did not sign within the period provided for in the contract certificate specifying the sale price of Idea Bank Ukraine," Getin said in the statement.