The Individuals' Deposit Guarantee Fund after an open tender among qualified investors on Aug. 7 signed an agreement on the purchase and sale of 100 percent of the shares in Ukrgazprombank with Primestar Energy FZE (Dubai, the UAE).
“The indicators of Ukrgazprombank’s solvency and liquidity should be restored by the new owner within 30 days. The completion of the bank capitalization should be confirmed by the results of an inspection conducted by the National Bank,” the fund said.
All investors, including legal entities and individuals, whose deposits exceed Hr 200,000, will be able to return their funds within the term specified in the contracts, but not earlier than the completion of bringing the bank’s activities in line with the requirements of Ukrainian banking legislation. In addition, the fund will not spend its money on withdrawing the bank from the market, including payment of guaranteed compensation, according to a press release.
The fund specified the companies from the Primestar Group are engaged in corporate rights management, as well as activities in the field of providing raw materials for hydroelectric, gas and electrical industries worldwide, also including trade in coal, crude oil, steel, raw materials for power plants.
