EBRD approves purchasing stake in Megabank
17 June 2009
The European Bank for Reconstruction & Development’s board of directors, at a meeting yesterday, approved purchasing a stake in Megabank (MEGA), and the extension of a EUR 20 mln loan to the lender, Interfax reported yesterday. According to the EBRD’s representative in Kyiv, Anton Usov, the agreements will be signed in July. Yesterday, Kommersant reported that the size of the stake could be up to 25% and that the transaction would be conducted via an additional share issue by the bank. Megabank was Ukraine’s #47 largest bank by assets, as of April 1, according to the National Bank of Ukraine.
