CMS advises Crédit Agricole Ukraine on acquisition of Bank Lviv

CMS Ukraine has advised Crédit Agricole Ukraine, a wholly owned subsidiary of Crédit Agricole S.A., on its acquisition of up to 100% of the shares and voting rights of Bank Lviv, an SME-focused Ukrainian bank with its head office in Lviv.

This acquisition enables Crédit Agricole Ukraine to strengthen its position in Western Ukraine, while reinforcing Crédit Agricole Ukraine’s positioning in the SMEs segment and in the agricultural sector.

The acquisition of Bank Lviv is fully aligned with Crédit Agricole Ukraine’s strategy to support the Ukrainian economy in the long term and its ambition to play a key role in the country’s reconstruction.

The transaction remains subject to customary conditions precedent, including obtaining regulatory approvals from the National Bank of Ukraine and the Antimonopoly Committee of Ukraine.

Ihor Olekhov, Banking & Finance Partner and Head of Banking & Finance Group at CMS Ukraine, commented: "This transaction demonstrates that well structured banking and finance solutions remain possible in Ukraine even in highly challenging market conditions. From the outset, our role was to design a regulatory robust and bankable acquisition structure that addressed heightened supervisory scrutiny, capital and liquidity considerations, and execution risk, while remaining aligned with Crédit Agricole Ukraine’s long term strategic objectives. By closely integrating banking, regulatory and corporate structuring workstreams, we were able to create a transaction framework that is resilient, credible for regulators and lenders, and capable of progressing despite ongoing uncertainty. Deals of this nature are essential not only for sector consolidation, but also for sustaining confidence in Ukraine’s financial system and enabling future reconstruction driven growth.”

Tetyana Dovgan, Corporate/M&A Partner at CMS Ukraine, commented: "We are delighted to have supported Crédit Agricole Ukraine on this landmark acquisition. As one of the most significant banking M&A transactions in Ukraine in recent years, the deal underscores the continued commitment of international banking groups to the Ukrainian market and sends a strong signal of confidence to foreign investors in the resilience and long-term prospects of Ukraine’s financial sector despite the ongoing war.  The transaction also reflects our strategic focus on complex M&A deals and demonstrates the strength of our Kyiv team, bringing together corporate, finance and competition specialists to deliver fully integrated advice throughout the process.”

The CMS team was led by Ihor Olekhov (Banking & Finance) and Tetyana Dovgan (Corporate/M&A) and supported by Inna Koval, Yuliia Chelebii-Kravchenko, Artem Sinelnikov (Corporate/M&A); Yaroslav Pavliuk and Ruslan Dotsenko (Banking & Finance); Viktoriia Stavchuk-Mulundkar (Tax); and Olga Belyakova and Mykola Heletiy (Competition), Oleksandr Sytnyk (Employment).