Baku:ABB Bank's acquisition of a 51% stake in Davr Bank represents a significant move in its geographic expansion strategy, strengthening economic and financial ties between Azerbaijan and Uzbekistan.

According to Azerbaijan State News Agency, KPMG played a crucial role in supporting ABB Bank throughout the acquisition process. The firm provided market research, due diligence, transaction support, and legal advisory services. KPMG's involvement included target bank screening, financial, tax, legal, IT, and compliance due diligence, transaction structuring and negotiations, reviewing transaction documentation, and assisting with obtaining necessary regulatory approvals.

The project was a collaborative effort involving KPMG's Deal Advisory, Legal, Tax, Technology, and Risk practices, showcasing the complexity of cross-border financial transactions. Seymur Niftaliyev, Director of KPMG Law in Azerbaijan and Uzbekistan, emphasized the need for thorough legal and regulatory assessment in such transactions, considering local legal requirements and the regulatory framework governing the financial sector.

Kirill Martynov, Partner of Deal Advisory at KPMG Caucasus and Central Asia, highlighted the broader implications of the transaction beyond capital investment. He expressed gratitude to all involved parties, emphasizing the cooperation and professionalism that contributed to the success of the transaction.