Getin Holding secures regulatory approval for sale of Belarusian unit

The Belarusian antimonopoly authority allowed Poland-based Getin Holding SA to sell its Belarusian unit, JSC Idea Bank, to CJSC Minsk Transit Bank.

The parties signed a conditional agreement regarding the sale in early March, with Minsk Transit Bank to pay 50 million Belarusian rubles for an almost 100% stake in Idea Bank.

Getin Holding hopes the final sale agreement will be signed by April 2.

As of March 10, US$1 was equivalent to 2.60 Belarusian rubles.