Swedbank Agrees To Purchase Tas-Komerzbank
8 February 2008
Swedbank announced yesterday that it had agreed to purchase a 100% stake in Tas-Komerzbank for USD 735 mln. However the deal could end up totaling USD 985 mln as Swedbank has also said it plans to invest an additional USD 250 mln in the bank’s development over the next three years depending on the bank’s performance. According to the agreement the bank’s owner, Serhiy Tigipko will continue to run the back for the next three years. Tas-Komerzbank is Ukraine’s 19th largest bank in terms of assets.
