Sberbank Group announces the closure of the deal to sell VS Bank PJSC (Ukraine)
OREANDA-NEWS. Sberbank Europe AG, a subsidiary of the Sberbank Group, has completed the transaction to sell its stake of 99.9230% in PJSC «VS Bank» (Ukraine) to TAS Group. Completion of the transaction was approved by the Antimonopoly Committee of Ukraine, as well as the European Central Bank and the National Bank of Ukraine. Sberbank is carrying out this transaction as part of its strategy to exit the Ukrainian banking sector. The deal will not have a significant impact on the financial indicators of Sberbank Group. Herbert Smith Freehills CIS LLP acted as Sberbank’s legal advisor for the transaction.
PJSC «VS Bank» (Ukraine) is a profitable bank that is highly capitalized. The bank is highly liquid, and has more than necessary funds to meet obligations toward its private and corporate clients. VS Bank has 422 employees and operates 35 branches. It has total assets worth EUR 121 million as of September 30, 2017.
Founded in 1998, TAS Group is one of the largest financial and industrial groups in Ukraine. The Group operates in the financial and industrial sectors, agriculture, real estate, pharmaceuticals, and venture projects. The Group’s financial sector presence includes TASCOMBANK JSC, UNIVERSAL BANK PJSC, Financial Company Centre for Financial Solutions (CreditMarket brand), leaders of the Ukrainian insurance market – IG TAS and IC TAS, Financial Company European Debt Recovery Agency, Processing Centre TAS Link, and Leasing Company ULF Finance. The founder and key shareholder of TAS Group is Serhiy Tihipko.