The legal team of Squire Sanders Ukraine led by Peter Teluk recently represented Group DF in its purchase of 100% of the capital of Ukraine’s Pravex-Bank from Intesa Sanpaolo, an Italian banking group.  The purchase agreement was signed on 23 January 2014. 

Pravex-Bank has been operating in the Ukrainian banking sector since 1998, primarily focusing on the retail segment with its network comprising 260 operating branch offices.  Pravex-Bank is the second bank to become part of Group DF, after the Group’s acquisition of Nadra Bank.  Following completion of all regulatory procedures and receiving approvals from the Anti-Monopoly Committee of Ukraine and the National Bank of Ukraine, which is mandatory for the deal to be finalised, Group DF will start realising its long-term strategy of joint development of the two banks after 2014.

Group DF has been a Squire Sanders client since the mid-2000s. Over the past few years, our lawyers in Kyiv, Moscow, London and Budapest have been involved in transactions, including the acquisition and financing of five chemical fertilizer plants (four in Ukraine and one in Russia), with an aggregate value of more than US$3.5 billion; the acquisition of banks; and the acquisition of other, gas-related assets.

In addition, we have represented Group DF with respect to several international arbitrations including a Ukrainian share dispute that involves multijurisdictional issues, including Ukrainian, Cyprus and English law.

In October 2013, global law firm Squire Sanders formed an international association with Salkom, a leading Ukrainian law firm. Squire Sanders-Salkom International Association offers its clients a powerful combination of enhanced local expertise and access to specialist knowledge across multiple jurisdictions.