The agreement value is $51 million
PrivatBank chaired by Ihor Kolomoysky is selling the bank subsidiary in Georgia, according to Deputy Chair of the Management Board Dmytro Dubilet, who posted the information on Facebook on December 5, LigaBusinesInform (ЛIГАБiзнесIнформ) reports.
«Today we announce that we will sell PrivatBank Georgia to Bank of Georgia. The agreement, I think, will be rather beneficial for both parties», - he said.
The memorandum of understanding was signed on December 1. They say at PrivatBank they have decided to sell its assets after obtaining rather advantageous proposal – the amount of operations totalled $51 million. Thus, the money multiplier effect is 1.18 of capital.
According to the data available, Privatbank still has assets in Latvia, Portugal, Italy, Germany and Cyprus.
