Completion of merger of Coop Pank AS and CP Varad AS
Ellex in Estonia Senior Associates Kadi Sink and Alla Kuznetsova advised Coop Pank AS and CP Varad AS on the completion of the merger.
On 21 December 2022 the merger of Coop Pank AS and CP Varad AS was entered into the Estonian Commercial Register. With the entry, the merger has been completed.
As a result of the merger, Coop Pank is the legal successor of CP Varad AS and CP Varad AS was deleted from the Estonian Commercial Registry. With registration of the merger in the Estonian Commercial Registry, all the assets, rights and obligations of CP Varad AS were transferred to Coop Pank. The balance sheet date of the merger was 1 July 2022. Since it is an intragroup merger, it does not have an impact on the consolidated financial position and rights and obligations of Coop Pank’s group.