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CMS advises Crédit Agricole Ukraine on acquisition of Bank Lviv

12/ 03/ 2026
  CMS Ukraine has advised Crédit Agricole Ukraine, a wholly owned subsidiary of Crédit Agricole S.A., on its acquisition of up to 100% of the shares and voting rights of Bank Lviv, an SME-focused Ukrainian bank with its head office in Lviv. This acquisition enables Crédit Agricole Ukraine to strengthen its position in Western Ukraine, while reinforcing Crédit Agricole Ukraine’s positioning in the SMEs segment and in the agricultural sector. The acquisition of Bank Lviv is fully aligned with Crédit Agricole Ukraine’s strategy to support the Ukrainian economy in the long term and its ambition to play a key role in the country’s reconstruction. The transaction remains subject to customary conditions precedent, including obtaining regulatory approvals from the National Bank of Ukraine and the Antimonopoly Committee of Ukraine. Ihor Olekhov, Banking & Finance Partner and Head of Banking & Finance Group at CMS Ukraine, commented: This transaction demonstrates that well‑structured banking and finance solutions remain possible in Ukraine even in highly challenging market conditions. From the outset, our role was to design a regulatory‑robust and bankable acquisition structure that addressed heightened supervisory scrutiny, capital and liquidity considerations, and execution risk, while remaining aligned with Crédit Agricole Ukraine’s long‑term strategic objectives. By closely integrating banking, regulatory and corporate structuring workstreams, we were able to create a transaction framework that is resilient, credible for regulators and lenders, and capable of progressing despite ongoing uncertainty. Deals of this nature are essential not only for sector consolidation, but also for sustaining confidence in Ukraine’s financial system and enabling future reconstruction‑driven growth.” Tetyana Dovgan, Corporate/M&A Partner at CMS Ukraine, commented: We are delighted to have supported Crédit Agricole Ukraine on this landmark acquisition. As one of the most significant banking M&A transactions in Ukraine in recent years, the deal underscores the continued commitment of international banking groups to the Ukrainian market and sends a strong signal of confidence to foreign investors in the resilience and long-term prospects of Ukraine’s financial sector despite the ongoing war.  The transaction also reflects our strategic focus on complex M&A deals and demonstrates the strength of our Kyiv team, bringing together corporate, finance and competition specialists to deliver fully integrated advice throughout the process.” The CMS team was led by Ihor Olekhov (Banking & Finance) and Tetyana Dovgan (Corporate/M&A) and supported by Inna Koval, Yuliia Chelebii-Kravchenko, Artem Sinelnikov (Corporate/M&A); Yaroslav Pavliuk and Ruslan Dotsenko (Banking & Finance); Viktoriia Stavchuk-Mulundkar (Tax); Olga Belyakova and Mykola Heletiy (Competition); and Oleksandr Sytnyk (Employment).  - END - For further information, please contact: Darina Gordienko E: [email protected] T: +38044 391 3377 Notes to editors: CMS Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With 92 offices in over 50 countries across the world and more than 7,200 lawyers, CMS has longstanding expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets. The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment, Labour & Pensions, Intellectual Property and Real Estate. For more information, please visit cms.law

CMS Ukraine has advised Crédit Agricole Ukraine, a wholly owned subsidiary of Crédit Agricole S.A., on its acquisition of up to 100% of the shares and voting rights of Bank Lviv, an SME-focused Ukrainian bank with its head office in Lviv.

This acquisition enables Crédit Agricole Ukraine to strengthen its position in Western Ukraine, while reinforcing Crédit Agricole Ukraine’s positioning in the SMEs segment and in the agricultural sector.

The acquisition of Bank Lviv is fully aligned with Crédit Agricole Ukraine’s strategy to support the Ukrainian economy in the long term and its ambition to play a key role in the country’s reconstruction.

The transaction remains subject to customary conditions precedent, including obtaining regulatory approvals from the National Bank of Ukraine and the Antimonopoly Committee of Ukraine.

Ihor Olekhov, Banking & Finance Partner and Head of Banking & Finance Group at CMS Ukraine, commented: “This transaction demonstrates that well‑structured banking and finance solutions remain possible in Ukraine even in highly challenging market conditions. From the outset, our role was to design a regulatory‑robust and bankable acquisition structure that addressed heightened supervisory scrutiny, capital and liquidity considerations, and execution risk, while remaining aligned with Crédit Agricole Ukraine’s long‑term strategic objectives. By closely integrating banking, regulatory and corporate structuring workstreams, we were able to create a transaction framework that is resilient, credible for regulators and lenders, and capable of progressing despite ongoing uncertainty. Deals of this nature are essential not only for sector consolidation, but also for sustaining confidence in Ukraine’s financial system and enabling future reconstruction‑driven growth.”

Tetyana Dovgan, Corporate/M&A Partner at CMS Ukraine, commented: “We are delighted to have supported Crédit Agricole Ukraine on this landmark acquisition. As one of the most significant banking M&A transactions in Ukraine in recent years, the deal underscores the continued commitment of international banking groups to the Ukrainian market and sends a strong signal of confidence to foreign investors in the resilience and long-term prospects of Ukraine’s financial sector despite the ongoing war.  The transaction also reflects our strategic focus on complex M&A deals and demonstrates the strength of our Kyiv team, bringing together corporate, finance and competition specialists to deliver fully integrated advice throughout the process.”

The CMS team was led by Ihor Olekhov (Banking & Finance) and Tetyana Dovgan (Corporate/M&A) and supported by Inna Koval, Yuliia Chelebii-Kravchenko, Artem Sinelnikov (Corporate/M&A); Yaroslav Pavliuk and Ruslan Dotsenko (Banking & Finance); Viktoriia Stavchuk-Mulundkar (Tax); Olga Belyakova and Mykola Heletiy (Competition); and Oleksandr Sytnyk (Employment). 

– END –

For further information, please contact:

Darina Gordienko

E: [email protected]

T: +38044 391 3377

Notes to editors:

CMS

Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With 92 offices in over 50 countries across the world and more than 7,200 lawyers, CMS has longstanding expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment, Labour & Pensions, Intellectual Property and Real Estate.

For more information, please visit cms.law

This material is provided by a member company or partner organization of the European Business Association as part of an informational collaboration. The Association is not responsible for the accuracy, completeness, or reliability of the information presented. The views, opinions, and recommendations expressed in this material are solely those of the authors and do not reflect the official position of the European Business Association.

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