DZP advises Getin Holding on the sale of ZAO Idea Bank in Belarus

Getin Holding, together with its subsidiary Getin International in liquidation, has concluded a conditional agreement to sell 99.999% of shares in ZAO Idea Bank in Belarus to ZAO Minsk Transit Bank.

The Idea Bank Belarus shares will be transferred once the conditions laid down in the conditional sale agreement have been met in accordance with Belarus law under share purchase agreements. The share purchase agreements are expected to be concluded by 2 April 2021 at the latest.

The client was advised by DZP lawyers from the Capital Markets and Financial Institutions Practice: Andrzej Foltyn, Partner and Head of Practice, and Piotr Jackowski, Senior Associate, who were involved in advising on the preparation and negotiation of the transaction documentation.

Idea Bank Belarus operates in the retail business segment and focuses on offering products and services to individuals. The bank's core products include cash loans, credit cards, deposits, current accounts and debit cards. As at 30 September 2020, Idea Bank Belarus had total assets of PLN 727.93 million and total equity of PLN 130.29 million.

Getin Holding Group operates in five countries providing services in the following sectors: banking, leasing, financial intermediation, accounting consultancy, financing of the public health service and local government authorities, debt trading and management and factoring. Getin Holding’s shares have been listed on the Warsaw Stock Exchange since 2001.

Read more about previous transactions in Getin Holding Group in which our lawyers were involved:

https://www.dzp.pl/en/deals-corner/228-dzp-advises-on-the-sale-of-a-bank-in-ukraine 

https://www.dzp.pl/en/deals-corner/225-dzp-advises-getin-holding-on-the-sale-of-carcade-rosja