UniCredit Completes Ukrsotsbank’s Takeover
24 January 2008
According to Ukrainian News, UniCredit Group announced it had completed the acquisition of a 94.2% stake in Ukrsotsbank (USCB: BUY) for EUR 1.53 bln (USD 2.21 bln). UniCredit also announced the assignment of Gianni Franco Papa to chair Ukrsotsbank to replace Mikhail Troyan, a representative of Viktor Pinchuk (former majority shareholder of the bank). Papa’s previous position was Deputy Head of the Council of Directors-General Manager of UniCredit Bank (Slovakia).
