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Italys Intesa Sanpaolo agrees to buy Pravex Bank for EUR504 million
Journal Staff Report

MILANO, Feb. 4 Intesa Sanpaolo, an Italian banking group, said Monday it had agreed to pay 504 million euros for 100% of Pravex Bank, a mid-sized Ukrainian bank, marking the groups expansion in Eastern Europe.

The acquisition comes almost a year after Intesa has failed to buy a bigger Ukrainian bank, UkrSotsBank, when regulators had suddenly delayed the approval of the deal.




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