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Getin Holding looks to sell Ukrainian subsidiaries

Poland-based Getin Holding SA signed a letter of intent to sell up to 100% shares of its Ukrainian units JSC Idea Bank and New Finance Service to a private equity fund.

The investor, which was not named, will launch a six-week due diligence procedure into both units. After the process is completed, the parties will discuss further details of the potential sale, including the size of stakes subject to the deal.

The private equity fund was granted exclusive rights until Jan. 1, 2020, to carry out the sale negotiations, and the potential deal could close in the first quarter of 2020, Getin Holding said Oct. 22.