UniCredit to sell Ukraine business to ABH HoldingsStaff writer ▼ | January 12, 2016
UniCredit reached a binding agreement to sell its Ukraine business to Luxembourg-based investment group ABH Holdings (ABHH) in exchange for a minority stake in ABHH.
Selling UniCredit will book an extraordinary charge of $218 million
Under the deal UniCredit will receive new shares issued by ABHH to give it 9.9 percent of the investment company, part of Russia's Alfa Group.
The deal, which is expected to be completed this year, will have a substantially neutral impact on its CET 1 capital ratio, UniCredit said. ■