Public Joint-Stock Company Joint-Stock Commercial Bank IndustrialBank (UKR:INDB) entered into a draft plan to acquire Public Joint Stock Company Joint Stock Bank Express Bank from Rose and Igor Dvoretsky and other shareholders on July 14, 2017. The National Bank of Ukraine (NBU) gave a preliminary approval for the draft on July 14, 2017. Under the terms of agreement, Industrialbank and Express Bank will be merged. Industrialbank and Express Bank have a common group of shareholders. Rosa Dvoretskaya, Igor Dvoretsky and Anna Dvoretskaya own 70% of the authorized capital of Industrialbank, and Rose and Igor Dvoretsky own 80% of Express Bank share capital. The composition of the Board will be formed of representatives of two banks. It will include: Vladislav Didovets, Artem Laznia, Vlad Verchenko, Inna Zavadskaya and Irina Maryanko. Mikhail Bukreev was elected Chairman of the Board of the merged bank. As of August 1, 2017, shareholders of Industrialbank and Express Bank approved the merger. As a legal successor, Industrialbank JSCB will assume ownership rights to the assets transferred to it (including the rights under suretyship agreements). In addition, Industrialbank JSCB will assume creditors’ (depositors’) claims debtor's liabilities on the debtors without amending the respective agreements. On August 18, 2017, NBU approved the takeover.