A shareholder of “Sens Bank” plans to sell his share for $1

The nominal owner of the shares of “Sens Bank” (until December 2022 – “Alfa Bank”) ABH Holdings SA offers to sell 75.6% of the financial institution to an international investor for $1.

This is stated in the statement of the company.

ABHH reiterated that the proposed sale of 75.6% of Sense Bank to an international investor does not involve any payments to sanctioned shareholders.

“The proposed value of the transaction for the acquisition of all 75.6% of Sense Bank is a nominal amount equivalent to 1 US dollar,” the message reads.

On April 26 last year, ABHH’s Board of Directors decided not to declare, pay or grant any dividends, distribute or provide any other funds to its sanctioned shareholders.

“The main goal of the search for an investor to whom control of Sense Bank could be transferred is to reduce the share of final beneficial owners who have been sanctioned to a level that would meet the requirements of Ukraine,” the owner of “Sense Bank” notes.

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We remind you:

Nominal owner of shares of “Sens Bank” (until December 2022 – “Alfa Bank”) ABH Holdings SA asks The National Security and Defense Council to authorize a deal under which the bank’s shares will be sold to a European investor. The company claims that the funds from the sale will not go to the under-sanctioned owners.

On April 11, the Verkhovna Rada in the first reading voted for draft law No. 9107-1, which will allow the NBU to start the nationalization of “Sens Bank” (formerly “Alfa Bank”).

Previously, the Council already passed the law, which simplified the procedure for nationalizing systemically important banks during the war. At that time, the only reason for such nationalization was to determine the bank’s liquidity problems.