SALE OF THE BANK (SALE OF CONTROL PACKAGE OF SHARES)

As a rule, such cases are complex and multifaceted, often lasting several months. As part of the preparation for the transaction, several dozen documents were drawn up over the course of more than three months.

Our company represented the interests of the sellers of the controlling stake in the bank.

In this case, among other things, the following factors had to be taken into account:

• There were more than ten sellers of the bank's shares, and all the sellers had their own internal relationships and mutual settlements, with different approaches to the structure of the transaction and its security,

• When selling shares of a banking organization, preliminary approval of the Bank of Russia for a new composition of shareholders and managers should be obtained,

• Strict requirements of the buyer, in terms of his guarantees, in the case of any problems after the acquisition of the bank, especially claims from the Bank of Russia, even taking into account the preliminary financial and legal audit carried out by the buyer.

The deal was carried out “in one day, at one table”, i.e. the signing of all the most significant documents and payments were carried out within one working day in one room, where the representatives of the sellers and the buyer, as well as the registrar, gathered.