Kyiv, 14 December 2015 - Avellum Partners acted as the legal counsel to Raiffeisen Bank International AG and PJSC Raiffeisen Bank Aval in connection with the acquisition by the European Bank for Reconstruction and Development (EBRD) of 30 per cent of shares in PJSC Raiffeisen Bank Aval, one of the leading universal banks in Ukraine.

The transaction concluded between EBRD and Raiffeisen Bank International AG includes EBRD participating in a UAH 3.15 billion (EUR 122 million) Tier 1 capital increase of PJSC Raiffeisen Bank Aval. The capital increase has been approved by the general shareholders' meeting of PJSC Raiffeisen Bank Aval on 3 December 2015. As a result of the transaction, EBRD will hold 30 per cent of total shares in PJSC Raiffeisen Bank Aval.

PJSC Raiffeisen Bank Aval, a subsidiary of Raiffeisen Bank International AG, provides services through a nationwide network of approximately 600 branches to more than 2.8 million customers.

Raiffeisen Bank International AG is a leading corporate and investment bank in Austria and considers Austria and Central and Eastern Europe (CEE) as its home market.

The EBRD, owned by 64 countries and two intergovernmental institutions, is supporting the development of market economies and democracies in countries from Central Europe to Central Asia.

Avellum Partners team working on this project was led by the Managing Partner, Mykola Stetsenko, and a Counsel, Yuriy Nechayev, with significant support from Associates, Andriy Romanchuk and Dmytro Tkachuk.