Ukraine's Alfa-Group announced completion of deal on acquisition of Ukrsotsbank
ABH Holdings S.A. (ABHH, Cyprus), which indirectly owns 100% of Alfa-Bank (Ukraine), and UniCredit Group (UCG) on October 31, 2016 announced the completion of a deal on the transfer of 99.9% in Ukrsotsbank (Kyiv), UCG's asset in Ukraine, in exchange for a minority stake of 9.9% in ABHH, according to a press release from Alfa-Bank (Ukraine).
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According to the report, as a result of the deal Italian banking group UniCredit Group has become a minority shareholder of ABH Holdings S.A., the investment holding company of Alfa-Group banking group with headquarters in Luxembourg. The ABHH board of directors will include Andrea Maffezzoni, Head of the Planning, Strategy and Capital Management Department in UniCredit.
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