MONETA to acquire Air Bank Group from PPF Group for $1.16bn.

MONETA Money Bank, a retail and expanding small and medium enterprises bank, agreed to acquire Air Bank Group, a retail bank, from PPF Group, an investment group, for $1.16bn. The agreement between the parties is subject to a shareholder approval at a General Meeting on 20 December 2021. Both the issuance of new shares as well as the acquisition of the Air Bank Group by MONETA will be subject to the requisite regulatory approvals, particularly from the Czech National Bank, the National Bank of Slovakia, and relevant antitrust authorities. On December 20, 2021, MONETA shareholders backed the proposed acquisition of Air Bank and a stock issue to pay for it.