The TAS Group, led by Serhiy Tigipko, is acquiring the Ukrainian Idea Bank from Polish Getin Holding. The purchase agreement was signed today, October 18, as stated in a press release from the Ukrainian group.
According to the terms, the buyer of 100% of Idea Bank shares will be the Cypriot company Alkemi Limited, which is part of the TAS Group.
"The completion of the transaction is subject to the approval of the Antimonopoly Committee of Ukraine and the agreement on the purchase of shares of 'Idea Bank' by the National Bank of Ukraine," the statement noted.
Under the signed agreement, the price of Idea Bank shares will amount to $34 million, with the expected level of bank income taxation at 50%. This amount will increase to $36 million if the income taxation for banks remains at 25%.
Additionally, the agreement stipulates that if the closing date of the transaction is later than December 31, 2024, Alkemi Limited will pay Getin Holding an additional $800,000 for each full calendar month starting from January 2025.
Idea Bank operates in the retail business segment and focuses on servicing individuals. The bank's main products include cash loans, credit cards, deposits, current accounts, and debit cards. As of June 30, 2024, the total balance of Idea Bank was nearly $162 million.
The TAS Group is one of the largest financial and industrial groups in Ukraine, represented in banking, insurance, railway car manufacturing, metallurgy, packaging materials production, logistics, agriculture, food industry, and real estate. The shareholder of the Group is Serhiy Tigipko.
