The Antimonopoly Committee of Ukraine (AMCU) has authorized ABH Holdings SA to acquire Ukrsotsbank.

amkuOn September 8, 2016, the AMCU (Antimonopoly Committee of Ukraine) announced that it had granted permission to ABH Holdings SA (Luxembourg) to acquire a controlling stake in PJSC Ukrsotsbank. ABH Holdings SA will therefore hold a majority (over 50%) of the bank's management votes.

According to the Antimonopoly Committee of Ukraine, it sees a number of positive aspects in Ukrsotsbank's transfer to the European company ABH Holdings SA. Specifically, the Ukrainian banking system will gain a large and highly competitive bank. The bank's clients will also gain access to a wider network of branches and ATMs, as well as a modern range of innovative products and services.

ABH Holdings SA is controlled by Russian oligarch Mikhail Fridman (Alfa Group).

 

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