On November 17, 2011, Skandinaviska Enskilda Banken AB (publ), the holding company of SEB Group, entered into agreements on a transaction involving (i) acquisition of a newly registered Ukrainian bank (ACCEPT BANK PJSC) for the purposes of further servicing of international corporate clients of SEB Group in Ukraine, and (ii) sale of SEB BANK PJSC (subsidiary bank of SEB Group in Ukraine) to a group of companies of a Ukrainian investor Oleksandr Adarich, with a preliminary transfer of all international corporate clients with ACCEPT BANK PJSC prior to the transaction completion.

Both stages of the transaction were successfully completed: acquisition by Skandinaviska Enskilda Banken AB (publ) of 100% shares in ACCEPT BANK PJSC took place on March 7, 2012, and sale by Skandinaviska Enskilda Banken AB (publ) of a majority stake in SEB BANK PJSC to Oleksandr Adarich’s group of companies was completed on June 7, 2012.

Vasil Kisil & Partners acted as the sole legal advisor to Skandinaviska Enskilda Banken AB (publ) in the process of developing the structure of the transaction and drafting all transaction-related contractual documents, obtained regulatory approvals for the acquisition of ACCEPT BANK PJSC by Skandinaviska Enskilda Banken AB (publ), provided legal support for actions associated with the launch of the operating activities of ACCEPT BANK PJSC as a banking institution (expanding the NBU exchange license for performance of banking transactions, obtaining the licenses of the National Securities and Stock Market Commission for trading in securities and engagement in the depositary activities of a securities custodian, obtaining membership in the payment systems Visa and Mastercard, etc.), provided full legal support for the transfer of international corporate clients of SEB BANK PJSC to ACCEPT BANK PJSC, and provided further support for the completion of both stages of the transaction.

Vasil Kisil & Partners’ team consisted of Senior Associate Maryna Fedorenko and Associates Dmitriy Boyko, Kseniya Ostrovskaya and Tatiana Gavrilyuk and was led by Partners Denis Lysenko and Yulia Kyrpa.

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Tel.: +380 44 581 7777

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About the Firm

Established in 1992, Vasil Kisil & Partners is a Ukrainian law firm that delivers integrated legal advice in banking & finance, mergers & acquisitions, capital markets, antitrust, competition and trade, dispute resolution, tax law, energy and natural resources law, intellectual property law, labor and employment law, real estate and construction law, as well as PPP, concessions and infrastructure law.

The firm`s clients include such world-known companies as Alpcot Agro, Africa-Israel Group, Astellas Pharma, BASF, Bayer Consumer, BNP Paribas, British American Tobacco, Central European Media Enterprises, Coca Cola, Credit Agricole Group, Danone, Dell Inc., Du Pont, Energy Standard Group, Eurosport, Google, IKB Deutsche Industriebank, LG Electronics, Leroy Merlin Ukraine, Lukoil, Metso Automation Oy, Moody’s, Mott MacDonald Limited, NCH Capital, Novacke chemicke zavody, Opel, Philips, Pioneer, Red Bull, Russian Standard Bank, St. Sophia Homes, SEB AB, SEB Group, Swedbank AB, Seven Hills, Shell, Standard Charted Bank, Tchibo, UniCredit Group, Vanco International / Vanco Energy, Volkswagen, VympelCom, YouTube.