Ukrainian Journal: Firtash buys 90% of Nadra Bank for $440 million

Ukrainian billionaire Dmytro Firtash spent about $440 million to acquire a 90% stake in Nadra Bank, a large troubled bank that has been under central bank management since 2009, Nadra reported. Firtash's Austria-registered firm Centragas Holding acquired a new share issue as part of the deal that brings in private capital to bail out the troubled bank. The move increases to more than $500 million from $60 million capital of Nadra Bank, improving the chance of survival for what was one of the largest banks in Ukraine before the financial crisis of 2008-2009. Read the story here