Tashkent, Uzbekistan (UzDaily.uz) — KPMG Caucasus and Central Asia (KPMG CCA) provided advisory support to the International Bank of Azerbaijan (ABB Bank) in its acquisition of a 51% stake in Uzbekistan’s Davr Bank.
The transaction forms part of ABB Bank’s strategy to expand its geographical presence and develop operations in new markets.
KPMG CCA supported ABB Bank throughout the key stages of the transaction, working alongside the bank’s legal, financial and business teams. Its advisory services included market research, preliminary due diligence on the target bank, transaction support and legal advice.
As part of the project, KPMG CCA specialists conducted a screening of Davr Bank and analysed the market. They also participated in the bank’s financial, tax, legal, IT and compliance due diligence.
In addition, the advisers contributed to structuring the transaction and conducting negotiations, reviewing transaction documentation and obtaining the necessary regulatory approvals.
A multidisciplinary KPMG CCA team was assembled for the project, bringing together specialists in investment and capital markets, law, taxation, technology and risk management.
KPMG CCA noted that the project highlights the complex nature of cross-border transactions in the financial services sector and the need for specialists from different fields to work together.
The acquisition of a 51% stake in Davr Bank expands ABB Bank’s presence beyond Azerbaijan while also supporting the development of economic and financial ties between Azerbaijan and Uzbekistan.
KPMG CCA thanked the ABB Bank team, Davr Bank’s shareholders and management, and other project participants for their cooperation throughout the transaction.
