CMS advises on high-profile acquisition of a stake in Moldova’s largest bank
CMS Cameron McKenna Nabarro Olswang in Kyiv is pleased to announce that it has advised the EBRD and private equity firms AB Invalda INVL and Horizon Capital (the “consortium”) on their acquisition of a 41.09% stake in B.C. Moldova Agroindbank S.A, Moldova’s largest commercial bank, at an auction held by Moldova’s Public Property Agency.
It is expected that the consortium will “bring the highest standards of corporate governance, new technologies and effective structures to strengthen the performance of Moldova’s leading bank, improve lending services for small businesses and support the wider economy,” the EBRD press-release stated.
The CMS team was led by Graham Conlon, Managing Partner of the Kyiv office and CEE/CIS Co-Head of International Private Equity, and counsel and corporate/M&A practice coordinator Tetyana Dovgan, with support from lawyer Diana Pysarenko.
Graham Conlon commented: “We are delighted to have advised our long-standing clients on this important transaction for Moldova’s banking sector and economy as a whole. Earlier this year, we have also advised EBRD on its acquisition of a stake in the third-largest Moldovan bank, Victoriabank.”
Tetyana Dovgan added: “This transaction re-confirms our capability to lead the highest-profile regional deals from on the ground in Ukraine.”
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