CMS Cameron McKenna LLP has acted for OTP Bank Rt. in its acquisition of a 100 per cent stake in Raiffeisenbank Ukraine for a purchase price of €650 million.
The CMS Cameron McKenna team was led by Corporate Partner, Robert Hayhurst, supported by Neil Berlad and Laszlo Bone from the firm’s Budapest office and with assistance and support from Troy Weeks in the London Corporate practice. Vasil Kisil and Partners acted as Ukrainian counsel, with Corporate Partner Denis Lysenko leading the Ukrainian team.
OTB Bank is Hungary’s leading bank and a leading financial institution across Central and South Eastern Europe.
Raiffeisenbank Ukraine is a subsidiary of Raiffeisen International Bank-Holding AG and is the seventh largest bank in Ukraine with 2005 assets of €1.2 billion and a 3.6% market share.
Commenting on the deal, Robert Hayhurst said: “The Ukrainian banking market is seen as having massive growth potential over the next five years. CMS Cameron McKenna is delighted to have supported OTP Bank, a long-term client, in its continued growth and expansion throughout the region of Central and South Eastern Europe.”
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