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Ukraine rejects Paritetbank's bid to acquire Sberbank unit


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Ukraine rejects Paritetbank's bid to acquire Sberbank unit

Ukraine's central bank rejected Belarus-based OJSC Paritetbank's bid to acquire a qualifying holding in PJSC Sberbank, the Ukrainian unit of PAO Sberbank of Russia.

The National Bank of Ukraine said March 27 that its decision was due to Paritetbank's "failure to comply with Ukrainian legal requirements."

It is not the first time that the central bank turned down a bid for the lender. Sberbank had initially agreed to sell the Ukrainian unit in March 2017 to a consortium of investors, including Latvian lender JSC Norvik Banka, but the central bank rejected the deal, saying the buyers did not provide sufficient documentation.

The central bank said it has been in discussions with Sberbank Ukraine's new management regarding its future strategy.