Primestar Energy Company from United Arab Emirates bought Ukrainian bank

Source : 112 Ukraine

"Ukrgazprombank" was announced insolvent
11:26, 11 August 2015

112 Agency

August 7 Deposit Guarantee Fund (DGF) sold the insolvent “Ukrgazprombank” to Primestar Energy. Ukrainian Joint-stock company was sold as a whole, including obligations to depositors and creditors, stated the press office of DGF.

In order to monitor the progress of the sale of shares contract, DGF has appointed a special bank curator. After taking this measures the National Bank of Ukraine will hold an inspection of the bank, and afterwards will pay the money back to the depositors.

April 8, 2015 "Ukrgazprombank" was declared insolvent by the National Bank of Ukraine (NBU). "Ukrgazprombank", founded in 1996, belongs to the 4th group of banks (the group of medium banks). According to the NBU, the total assets of the bank as for January 1, 2015 was $1.369 bln.

Primestar Energy  is one of the leading companies in the Middle East and South East Asian markets dealing in coal, steel, crude oil and power plant allied commodities it also maintains a strong position in the Far East. 

Related: UniCredit expects to sell its Ukrainian subsidiary till the end of the year

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