Avellum has advised Saggarco Ltd on the acquisition of a 99.91% stake in PJSC Marfin Bank from Cyprus Popular Bank Public Co Ltd (“CPB”). DLA Piper reportedly advised the sellers on the deal.
According to Avellum, "CPB, through its subsidiaries, provides banking and financial services to individual and corporate customers in Cyprus, Greece, and internationally. It operates under the regulation and supervision of the Central Bank of Cyprus." The firm also reports that, "Marfin Bank provides full range of banking operations. It covers the main cities of Ukraine and renders services to over 11,000 companies and more than 200,000 individuals."
The Avellum team was led by Managing Partner Mykola Stetsenko and Associate Yuriy Zaremba, with support from Senior Associate Yaroslav Medviedev and Associates Anton Arkhypov, Andrii Gumenchuk, Andriy Romanchuk, Olga Tersina, and Dmytro Tkachuk.
DLA Piper did not reply to our inquiry on the matter.
