The owners of Pravex Bank - Leonid Chernovetskyi, Stepan Chernovetskyi, and Krystyna Chernovetska - have promised Italy's Intesa Sanpaolo (the buyer of a controlling stake in Pravex Bank) that they will not operate on the market of banking services for two years after concluding an agreement on sale of the bank to the Intesa Sanpaolo group.
The Antimonopoly Committee of Ukraine announced this in a statement.
The Antimonopoly Committee authorized conclusion of such an agreement between the owners of Pravex Bank and Intesa Sanpaolo.
The agreement stipulates that the owners of Pravex Bank can only operate on regional markets of collection of utility payments from the population during these two years.
As Ukrainian News earlier reported, the owners of Pravex Bank announced in early February that the Intesa Sanpaolo group had agreed to purchase a 100% stake in Pravex Bank for USD 750 million.
The Antimonopoly Committee authorized Intesa Sanpaolo to acquire more than 50% of the shares in Pravex Bank in late February.
The net assets of Pravex Bank were valued at UAH 6,075.3 million as of January 1, 2008, when its credit portfolio amounted to UAH 3,921.1 million and its equity capital UAH 724.8 million.
The bank ended the year 2007 with a profit of UAH 24.401 million.
The largest shareholders of Pravex Bank, which is an open joint-stock bank, are the Pravex Brok limited liability company (it owns 10.68% of the bank's shares), the Pravex Strakhuvannia open joint-stock company (2.32%), Krystyna Chernovetska (7%), Stepan Chernovetskyi (61.43%), and Kyiv's Mayor Leonid Chernovetskyi (7% directly and 85.14% indirectly).
Press conference with Situations Modeling Agency entitled "Earlier Kharkiv elections: possible consequences and prospects for participants of electoral process"
