Changes in the Shareholders Structure of PJSC Alfa-Bank (Ukraine)

News 16 november 2017 - 17:39

On 16 November  2017, the international investment Foundation MSP Stiftung (Liechtenstein) became a shareholder of PJSC Alfa-Bank (Ukraine) having acquired 9.9% of its shares. As a result, the Austrian banker Martin Schwedler will be appointed as the Supervisory Board Chairman of PJSC Alfa-Bank (Ukraine) after all necessary approvals with the Ukrainian regulator.

The shareholders’ structure of PJSC Alfa-Bank (Ukraine) has been expanded and now includes MSP Stiftung Foundation, established by Martin Schlaff, one of the leading Austrian businessmen with interests in financial sector and industrial production. MSP Stiftung co-owns Sigma Kreditbank AG (Liechtenstein) which specializes in retail lending. It also owns around 25% in RHI Magnesita NV, a global producer of high-quality refractory products used in high-temperature industrial processes.

Entry of the new investor into the shareholders’ structure of PJSC Alfa-Bank (Ukraine) will further strengthen the Bank’s growth strategy. The Bank will continue to increase its presence in all key business segments as the universal financial institution with a unique international expertise and focus on development of online services for its clients.

Adding leading international professionals to the team is one of the components of Alfa-Bank (Ukraine) and the ABHH banking group growth strategy. This will enable the Bank to not only implement advanced international practices, but also increase its corporate governance standards. The decision of the shareholders to appoint Martin Schwedler as the Supervisory Board Chairman of PJSC Alfa-Bank (Ukraine) clearly confirms this strategy.

Martin Schwedler has an extensive experience in corporate finance and investment banking having served in such companies as GE Capital, Raiffeisen Investment AG and Lazard Frères Gestion. Martin Schwedler earned the Master of Laws degree from the University of Innsbruck. Martin Schwedler will take the position of the Supervisory Board Chairman after the approval of the National Bank of Ukraine, while Petr Aven, currently holding this position, will remain on the Supervisory Board of the financial institution.

The affiliation of a new shareholder with Alfa-Bank (Ukraine) changed the structure of the Banks’ ownership. Accordingly, the ultimate major shareholders of PJSC Alfa-Bank (Ukraine) are MSP Stiftung – 9.9%, Mikhail Fridman – 29.62%, German Khan – 18.89%, Alexey Kuzmichev – 14.7%, and Petr Aven – 11.17%. The transaction was carried out in full compliance with the legislative and regulatory requirements of Ukraine.

Martin Schlaff, Founder of MSP Stiftung, noted: "The board of MSP Stiftung has been closely looking at financial assets in the Eastern Europe, specifically in Ukraine for some time. I am pleased that they have managed to partner up with ABH Holdings S.A. I trust that MSP Stiftung and ABH Holdings S.A. together will meet the challenges of creating the best bank, the bank-leader in Ukraine. MSP Stiftung will certainly contribute its knowledge, experience, and know-how to reach this goal. This will help strengthening MSP Stiftung for future generations."

Petr Aven, Chairman of the Board of Directors of ABH Holdings S.A., stressed: “We are pleased to welcome our new partner MSP Stiftung as a shareholder of Alfa-Bank (Ukraine). Moreover, our further plans include the expansion of MSP Stiftung’s participation in PJSC Alfa-Bank (Ukraine) to 24.9% of shares. Cooperation with one of the largest investment funds of the Central Europe will strengthen our position on the Ukrainian market and will open new business opportunities for ABH Holdings S.A. in the European business community”.