Cross-Border Bank Acquisition

Crédit Agricole

Chadbourne represented Crédit Agricole S.A. Group in the acquisition of at least 98% of the share capital of JSC Index Bank of Ukraine. The deal, signed March 24, 2006 includes a stock sale agreement with Index Bank shareholders under which Crédit Agricole agreed to pay $260 million for existing and new shares of Index Bank.

Index Bank, with assets of $460.4 million, was created in 1993 and now ranks among Ukraine's leading banks with 186 offices including 25 branches throughout the country. Index Bank's operations, along with those of Calyon Bank Ukraine, one of the country's major foreign corporate and investment banks, will enable Crédit Agricole to expand its position in the growing Ukraine market.

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