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Asters advises FUIB on its merger with Dongorbank

Asters acted as a legal counsel to the First Ukrainian International Bank (FUIB) in connection with its merger with Dongorbank. The legal advice on the deal included consulting on the banks reorganization issues, drafting necessary documents, and assistance in coordination of the merger process.

The decision on merger of Dongorbank to FUIB was taken at the general meetings of shareholders in November 2010. On 15 July 2011 the parties executed and approved the relevant transfer act pursuant to which all assets, rights and obligations of Dongorbank passed over to FUIB.

In the coming months, FUIB will increase its charter capital and issue shares in the amount of the registered charter capital of Dongorbank which will become the final stage in the reorganization of two banks.

89.87% of the share capital in FUIB belong to LLC "SCM Finance". PJSC "FUIB" was founded in 1991. It is currently one of the biggest Ukrainian banks. Upon merger with Dongorbank, the FUIB's regional network will comprise 11 branches and 171 retail bank offices in Ukraine.

Asters' M&A team working on the project included partner Svitlana Poroschuk, associates Yevgen Porada and Ivan Mykhalchuk.

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