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CMS Secures Regulatory Approval for the Acquisition of a Substantial Shareholding in Tiger Finance

International law firm CMS has advised PrimoCollect Group on successfully securing approval from the National Bank of Ukraine (the NBU) for the acquisition of a substantial shareholding in Tiger Finance, a leading non-banking financial company in Ukraine.

The NBU has taken on this new regulatory role following the introduction of the “On Amendments to Some Legislative Acts Regarding the Improvement of the Functions of State Regulation of Financial Services law (also known as the Split Law), which came into force last year.

The Split Law reduced the number of regulators in the non-banking financial sector by liquidating the previous regulator, the National Commission for State Regulation of Financial Services Markets. The NBU now supervises non-banking financial institutions, such as insurance companies, credit institutions, financial companies, leasing companies and other non-banking financial institutions.

Established more than a decade ago, PrimoCollect Group is a debt recovery company with over 11 years of experience. PrimoCollect Group is represented in two countries and offers its customers debt collection services, offering extensive operational capabilities in debt acquisition, outsourced debt collection and related scoring and risk management consulting.

Ihor Olekhov, CMS partner and Head of Banking and Finance at CMS Cameron McKenna Nabarro Olswang in Kyiv, comments: “This is yet another example of CMS continuing to successfully gain approvals from the National Bank of Ukraine for these types of acquisitions. We are delighted that we are able to support our client through the regulatory process. As a team of professionals with an excellent track record, we are capable of adding significant value by ensuring compliance with regulatory requirements applicable to financial institutions.”

The team was led by CMS partner Ihor Olekhov and supported by Ivan Pshyk, Iryna Barlit and Bohdan Ilchenko.

For further information, please contact:

Darina Gordienko, Senior Business Development Executive

E: darina.gordienko@cms-cmno.com

T: +38 044 391 3377

Notes to editors:

Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With more than 70 offices in over 40 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Infrastructure & Projects, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Competition & EU, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate.

For more information, please visit cms.law

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