Public Joint Stock Company "First Ukrainian International Bank" entered into a conditional agreement to acquire Public Joint Stock Company Idea Bank from Getin Holding S.A. (WSE:GTN) on November 10, 2021. The consideration will be equivalent of the bank's total net assets (as determined in accordance with the balance sheet for the financial year 2021 audited by an independent auditor) multiplied by 1,072 (the base amount), plus the Bank's net profit generated in the period from 1 January 2022 to the last day of the month preceding the month in which the day on which the last condition precedent is fulfilled by the buyer falls, but not by more than UAH 45 million (equivalent to PLN 6.86 million, the generated profit) and less the total amount of dividends paid by the bank for the year 2021 prior to the closing date. In case the generated profit is negative, the base amount will be reduced accordingly. Pursuant to the provisions of the agreement, the issuer on the date of transfer of the ownership of the shares will receive the price less the amount of UAH 95 million(PLN 14.5 million). This amount shall be retained by the buyer to secure potential claims of the buyer related to the quality of the bank's credit portfolio and then paid to the issuer in two instalments after the first and second anniversary from the closing date. After the completion of the transaction, Idea Bank will become a part of the banking group of FUIB as a separate legal structure without staff rotations and will continue to serve clients under the Idea Bank brand as usual.

The transaction is subject to approval by the National Bank of Ukraine (NBU), the Antimonopoly Committee of Ukraine, entering into and maintaining in force an agreement to transfer of certain assets of New Finance LLC (a subsidiary of Getin) to a buyer designated by the FUIB. As on February 3, 2022, the transaction was approved by the Antimonopoly Committee of Ukraine. The completion is expected to take place no later than February 25, 2022 or such other later date as the parties may agree. As per update on November 11, 2021, the parties plan to complete the transaction by the end of the first quarter of 2022. Viacheslav Yakymchuk and Andrii Moskalyk of Baker & Mckenzie - Cis Limited acted as legal advisor to First Ukrainian International Bank. Alina Plyushch of Sayenko Kharenko acted as legal advisor to Getin Holding S.A.

Joint Stock Company First Ukrainian International Bank cancelled the acquisition of Public Joint Stock Company Idea Bank from Getin Holding S.A. (WSE:GTN) on August 29, 2022.