18:24 05.02.2021

Polish Getin Holding signs agreement to sell subsidiary Idea Bank to Ukrainian buyer

1 min read
Polish Getin Holding signs agreement to sell subsidiary Idea Bank to Ukrainian buyer

Polish Getin Holding S.A. (Wroclaw) on February 5 signed an agreement with a Ukrainian buyer for the sale of 100% of the shares of subsidiary Idea Bank (Lviv) and 100% of the shares of New Finance Service (Kyiv), Getin Holding S.A. has said.

According to a report on biznes.pap.pl, the parties plan to close the potential deal by September 30, 2021.

Before that the buyer will conduct due diligence the companies, and after a positive result of the due diligence the parties will proceed to agree on the terms of the potential transaction.

Getin Holding also reports that the company granted the buyer exclusive rights for negotiations until April 30, 2021.

Idea Bank (formerly Plus Bank) was founded in 1989. As of January 1, 2020, its sole shareholder was the financial group Getin Holding S.A. (Poland).

According to the National Bank of Ukraine, as of October 1, 2020, Idea Bank ranked 24th among 74 operating banks in terms of total assets (UAH 8.057 billion).

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