BNP Paribas repurchases share of UkrSibbank's minority shareholders
French BNP Paribas, major shareholder of UkrSibbank, intends to repurchase 0.0002% of financial institution from minority shareholders, according to the bank.
On December 21, BNP Paribas reported its intention to execute the right provided by Article 65-2 of the Law of Ukraine "On Joint-Stock Cmpanies" with account for Final and Transitional Provisions of the Law of Ukraine "On Amendments to Some Legal Acts of Ukraine regarding Corporate Governance Improvement in Joint-Stock Companies".
BNP Paribas, which owns 59.99% in UkrSibbank, and the European Bank for Reconstruction and Development (owns 40%) agreed on cooperation on December 21.
According to the agreement, BNP Paribas is the authorized entity to acquire all rights and discharge all liabilities set by Ukrainian legislation to repurchase minority shareholders' 0.0002%.
UkrSibbank was established in Kharkiv in 1990.
BNP Paribas (France), international financial group, has been UkrSibbank's partner since 2006.
BNP Paribas Group owns 59.99% in UkrSibbank, 40% are owned by the European Bank for Reconstruction and Development (EBRD).
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