OREANDA-NEWS. On January 23, 2007 UniCredit announced that Bank Austria Creditanstalt AG (“BA-CA”), responsible within the UniCredit Group for commercial banking activities in CEE has finalized the acquisition of 94,2% of the total issued share capital of OJSC Ukrsotsbank (“USB”) from a group of investors represented by EastOne, an international investment advisory firm (the “Selling Shareholders”), reported the press-centre of Ukrsotsbank.

The purchase price at closing is ?1,525 million (or ca. US$2,211 million at current exchange rates), which includes the pro-rata capital increase subscribed by the Selling Shareholders in June 2007. In addition, the final consideration will include a post-closing adjustment to be based on USB’s net asset value at closing.

The acquisition of USB reinforces UniCredit’s Group’s operations in Ukraine, one of the fastest growing economies in the region, where the Group already operates through UniCredit Bank Ltd.

Credit Suisse and UniCredit Markets & Investment Banking acted as financial advisors to UniCredit and BA-CA, with Allen&Overy acting as legal advisor.