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EBRD to buy into BNP Paribas Ukraine subsidiary

Mon, 20th Dec 2010 11:29

KIEV, Dec 20 (Reuters) - The European Bank for Reconstruction and Developm
ent said on Monday it would buy a 15 percent stake in UkrSibBank, the Ukrainian subsidiary of French lender BNP Paribas.

The EBRD plans to pay $82 million for the stake and complete the deal in the first quarter of 2011, it said in a statement.

The EBRD also said it would provide a 10-year subordinated loan of $140 million to UkrSibBank, the fifth largest lender in the former Soviet nation.

BNP Paribas this month increased its stake in UkrSibBank to 99.99 percent after buying out shares held by local businessman Oleksander Yaroslavsky.

(Reporting by Natalya Zinets; Writing by Olzhas Auyezov; Editing by Greg Mahlich) Keywords: EBRD/UKRSIBBANK

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