LawFuel.com – International Business & Law News – Shevchenko Didkovskiy & Partners has acted as a Ukrainian legal counsel to Swedbank in connection with acquisition of 99.99% of shares of TAS-Kommerzbank for USD 735 million.
The relevant transaction documents were signed on 7 February 2007. Closing of the transaction is expected upon obtaining approvals of the Antimonopoly Committee of Ukraine and the National Bank of Ukraine.
Shevchenko Didkovskiy & Partners transaction team included lawyers of Banking, Finance & Securities Practice Group led by partner Armen Khachaturyan and associates Svitlana Poroschuk, Olena Repkina, and Leonid Antonenko. The firm’s lawyers conducted full-blown due diligence of the Ukrainian bank, provided Ukrainian law advice on structuring and documenting the transaction, and will assist with obtainment of regulatory approvals.
While commenting on the successful execution of the deal Armen Khachaturyan says: “Acquisition of TAS-Kommerzbank by the leading European bank is without doubt an important step towards shaping up Ukrainian banking system by using the latest international banking products, technologies, and management. As a result of this transaction everybody is happy – the immediate sellers and the buyer, the bank itself, its clients, and Ukrainian financial market and consumers of banking services as the whole. This is the case when hard work of financial experts and lawyers resulted in a successful significant event in Ukrainian business life.”