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Erste Bank buys 50.5% in Ukraine’s Prestige Bank for $35.3 mln
Journal Staff Report

KIEV, July 28 - Erste Bank der oesterreichischen Sparkassen AG is entering the Ukrainian market with the acquisition of a 50.5% stake in Bank Prestige for $35.3 million, the banks reported on Friday.

"Based on a shareholders' equity of $59.2 million this translates into a price/book multiple of 1.18," the banks said, adding that the transaction is expected to be completed in October 2006.




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