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Baker McKenzie Advises Eurobank Ergasias on Sale of Universal Bank to TAS Group

Baker McKenzie Advises Eurobank Ergasias on Sale of Universal Bank to TAS Group

Ukraine
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Baker McKenzie’s Kyiv office has advised Eurobank Ergasias S.A., one of the largest banks in Greece, on the sale of its Ukrainian subsidiary, Universal Bank, to Ukraine's TAS Group industrial group, which owned by Ukrainian businessman Sergiy Tigipko. 

The Eurobank group is active in eight countries, with total assets of EUR 68.2 billion and 15,935 employees. With a total network of 900 branches in Greece and abroad, the group offers a range of financial products and services to its retail and corporate customers.

TAS GROUP was founded in 1998 and is, according to Baker McKenzie, "one of the biggest and most dynamic financial and industrial groups in Ukraine." The group has business interests in the financial and industrial sectors, real estate, agriculture, and venture projects. In the financial sector, TAS Group is represented by Tascombank, consumer finance company KreditMarket, life and non-life insurance companies operating under the TAS trademark, and processing center TAS Link.

The Baker McKenzie team was led by Kyiv Partner Ihor Olekhov, with input from Senior Associate Andrii Moskalyk and Associates Bogdan Dyakovych, Stepanyda Badovska, Alyona Furda, and Olena Serpukhovitina.

Commenting on the transaction, Ihor Olekhov said: "We are delighted to have advised Eurobank on this milestone M&A deal for the Ukrainian banking sector. The challenging conditions in the banking market in Ukraine have made this transaction quite sophisticated. We hope this is one of the first signs of recovery in the banking and financial services markets in Ukraine, which for several years have experienced significant downfalls."

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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