Sayenko Kharenko acted as Ukrainian legal counsel to the largest bank in Greece, Piraeus Bank, in a complex cross-border reverse merger transaction with its parent company, Piraeus Financial Holdings S.A. (PFH). The deal set a precedent for Ukraine’s banking sector and opened new opportunities for similar transactions.
On 19 December 2025, Piraeus Bank became the universal successor to all rights, intangible assets, claims, and obligations of PFH, including its majority stake in JSC Piraeus Bank ICB (Piraeus Bank Ukraine). Three days later, the bank’s shares began trading on the Athens Stock Exchange under the new structure which supports the group’s updated strategic objectives. The key achievement was obtaining approval from the National Bank of Ukraine for the acquisition of significant shareholding in the Ukrainian bank – a decision that required a deep understanding of local regulatory specifics and international standards.
The firm handled a broad range of legal, antitrust and regulatory matters, ensuring coordination between jurisdictions and interaction with regulators. With years of experience in complex banking transactions, the Sayenko Kharenko team understood the critical points of Ukrainian regulation, which proved decisive for the project’s success.
“The reverse merger required sophisticated cross-border legal coordination and close engagement with regulators. Sayenko Kharenko’s professional support on Ukrainian legal and regulatory matters was essential to the successful completion of the transaction,” said Iryna Marushko, Head of Legal at Piraeus Bank Ukraine.
The Sayenko Kharenko project team, coordinated by Tetiana Dyvak under the supervision of Oleksandr Nikolaichyk, included Volodymyr Sayenko, Igor Pomaz, and Marian Mokryk.