EBRD joins UkrSibbank's board of directors with 15% stake
KYIV. Aug 11 (Interfax) - The European Bank for Reconstruction and Development (EBRD) has joined the board of directors at Kharkiv-based UkrSibbank (part of the BNP Paribas group) with a 15% stake in the bank's charter capital.
According to UkrSibbank's information filed with the Ukraine's State Stock Market and Securities Commission, EBRD acquired the stake from the main shareholder in the Ukrainian bank, France's BNP Paribas S.A.
Information on the new shareholders was filed with the SSMSC on August 9. BNP owned 99.9995% of charter capital in UkrSibbank at the start of July, 2011.
EBRD announced its plans to purchase 15% in UkrSibbank in December 2010 and said officially in May of this year that it would acquire 20,281,496,040 common shares and 2,253,499,560 class A preferred shares.
UkrSibbank was founded in 1990.
According to the National Bank of Ukraine, UkrSibbank was fifth biggest bank in Ukraine by assets as of January 1, 2011.