Dragon Capital Advises Piraeus Bank in Successful Acquisition of International Commercial Bank
Kyiv, September 13, 2007 – Investment bank Dragon Capital has successfully advised Piraeus Bank of Greece in its acquisition of Kyiv-based International Commercial Bank. Dragon Capital acted as exclusive financial advisor to Piraeus Bank, which purchased a 99.6%-share in the mid-sized Ukrainian bank for $75.3m.
As part of its advisory mandate, Dragon Capital carried out a complete analysis of the Ukrainian banking sector and helped Piraeus Bank choose its final acquisition target. Dragon Capital Investment Banking Vice-president Mykola Korol believes the deal speaks highly of Dragon’s accomplishments in this sphere.
“This acquisition represents the second successful M&A transaction by Dragon Capital in Ukraine’s banking sector,” he said. “Last year, Dragon acted as exclusive financial advisor to Austria’s Erste Bank group in its search for a suitable Ukrainian acquisition target, and that led to the eventual purchase of Bank Prestige for $104m.”
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