European bank of reconstruction and development decision on allocation of 20 million euro

The board of directors of the European bank of reconstruction and development has made on June, 16th the decision on allocation of 20 million euro to the Kharkov Megabank. As the co-ordinator of researches and European Reconstruction and Development Bank foreign affairs in Ukraine Anton Usov has informed «Capital Credit», corresponding agreements will be signed by the parties in second half of July. Then the special-purpose designation of means becomes known: on hearings, the sum most part (to 15-16 million euro) will be enclosed in the action of Megabank after carrying out emission, and other money is issued as the demand line of credit of the European bank.

«During crisis for us it is important to support qualitative players, including at regional level which in Ukraine not so it is a lot of. And the Megabank choice is not casual. This financial establishment with good structure of the share capital and competent management, co-operates with which European Reconstruction and Development Bank three years», — Mr. Usov has commented on the transaction. «We work with the European bank of reconstruction and development more than three years. And its occurrence in our capital raises trust to financial establishment», — the head of the supervisory board of Megabank Victor Subbotin echoes it.

While experts need to do only assumptions of the size of a share holding which will get to the European bank. «The bank estimation will become, proceeding from its qualitative parametres, the market positions flowing and the future requirements for additional debt and joint-stock financing. By our estimations, in an European Reconstruction and Development Bank portfolio it can appear an order of 15-20 % of actions of the Kharkov bank», — the chief of department of sales of investment company Phoenix Capital Stanislav Shlapak has told «Capital Credit».

The European bank of reconstruction and development becomes not the first foreign shareholder of the Kharkov financial establishment. In March, 2006 the Megabank has spent private placing of 20% of actions on ПФТС for which it then managed to gain $19 million And though the list of buyers was not disclosed, informally it became known that 9% of actions have settled in portfolios of foreigners into which number have entered American Bank of New York Mellon, Austrian Raiffeisen Zentralbank Osterreich, Italian Uni-Credit Bank Austria AG, etc. And spring of 2007 was included into structure of shareholders of Megabank Bank Austria Creditanstalt AG which share holding has reached 13,38 %. However, are soon expensive with the Austrian bank have dispersed: already in the second half of the year 2007 its participation in the capital was reduced to 3,2%.

«Conflicts to the Austrians at us was not. Simply they needed to curtail the capital: then the transaction on purchase by the Italian group UniCredit of Ukrsotsbank through “daughter” (Bank Austria Credit-anstalt AG) was made out, and it concentrated the Ukrainian actives », — have explained «Capital Credit» in Megabank. According to Nation Ukaine Bank, for April, 1st the largest owner of the mediated participation — 65,84 % of actions — was the head of the supervisory board of Megabank Victor Subbotin.