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UniCredit to sell Ukraine business to ABH Holdings

Staff writer |
UniCredit reached a binding agreement to sell its Ukraine business to Luxembourg-based investment group ABH Holdings (ABHH) in exchange for a minority stake in ABHH.

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UniCredit said as a result of the transaction it would book an extraordinary charge of around 200 million euros ($218 million) in the fourth-quarter of 2015 results.

Under the deal UniCredit will receive new shares issued by ABHH to give it 9.9 percent of the investment company, part of Russia's Alfa Group.

The deal, which is expected to be completed this year, will have a substantially neutral impact on its CET 1 capital ratio, UniCredit said.


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