AVELLUM advises MTB Bank and Bank Center on merger
Avellum Partners, Kyiv, Ukraine,
Fri, Feb 22, 2019
AVELLUM acted as the legal counsel on the merger of Public Joint Stock Company “MTB Bank” (“MTB Bank”) and Public Joint Stock Company “Commercial Bank “Center” (“Bank Center”). The merger was conducted under a simplified procedure introduced by the Law of Ukraine “On Simplifying Reorganisation and Capitalisation Procedures for Banks”, which became effective on 29 April 2017 (“Law”).
As a result of the merger, MTB Bank became a legal successor of Bank Center.
AVELLUM advised MTB Bank and Bank Center on a wide range of corporate, employment, and antitrust matters. Moreover, we assisted both clients in preparation of all the transaction documents in connection with the merger.
The merger is the third transaction of this type in the Ukrainian banking sector since the Law came into force.
Mykola Stetsenko, co-managing partner of AVELLUM, commented on the transaction: “We were honoured to help our long-standing clients in consolidating their businesses in the banking sector and setting an example for the market. We wish all the best to renewed MTB Bank in achieving its ambitious goals.”
MTB Bank provides a full range of banking operations with over 130 branches in the biggest Ukrainian cities and renders services to over 11,000 companies and 200,000 individuals.
The AVELLUM team was led by co-managing partner Mykola Stetsenko with support from senior associate Andriy Romanchuk, associates Dmytro Tkachuk and Oleksandr Kulykovskyi. Of counsel Yaroslav Medvediev together with associates Anton Arkhypov and Uliana Lutchyn covered the antitrust matters.