Dragon Capital Announces Termination of Deal to Buy Idea Bank

The Dragon Capital Group of Companies announces the termination of the agreement to acquire a 100% stake in Idea Bank (Lviv) from Getin Holding S.A. (Poland).

The parties failed to agree on commercial terms of the transaction within the period established by their contract.

This was largely due to the economic crisis caused by the spread of the coronavirus disease (COVID-19) in Ukraine and around the world, which significantly affected potential risks associated with the fulfillment of the agreement.

Due to the termination of the agreement, the application for approval of the acquisition of material shareholding will be withdrawn from the National Bank of Ukraine in the near future.