18:30 22.12.2020

AMCU allows Dragon Capital to buy Novinsky's Unex Bank

2 min read
AMCU allows Dragon Capital to buy Novinsky's Unex Bank

The Antimonopoly Committee of Ukraine (AMCU) has approved the acquisition of Unex Bank (Kyiv) of MP Vadim Novinsky by the Cyprus Dragon Capital Investments Limited, the AMCU's press service said on Tuesday.

The committee voted for the corresponding decision at a meeting on December 22.

According to the committee, the acquisitions will ensure over 50% of the votes in the supreme governing body.

"Smart Holding does not comment on transactions until they are completed. [...] Our investment portfolio is constantly evolving, and decisions on entering or exiting a business are made as part of our long-term strategy. We and our partners comply with all legal requirements when concluding any transactions, including the antimonopoly one," Smart Holding, in which Novinsky's assets are concentrated, told Interfax-Ukraine.

Smart Holding said that official notifications from regulators can only indicate the potential interest of the parties. "We adhere to the principles of openness and will inform all interested parties in case of changes in our investment portfolio," the company said.

Dragon Capital also refused to comment on the potential deal.

According to the National Bank of Ukraine, as of October 1, 2020, in terms of total assets, Unex Bank ranked 64th (UAH 796.83 million) among 74 banks operating in the country.

 

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