KIEV, Oct. 30 - Ukrainian billionaire Vadim Novinskiy's Smart-holding has closed the acquisition of 96.06% of the shares in Kiev-based Forum Bank from Commerzbank AG, the holding said in a press release.

The purchase has already been authorized by Antimonopoly Committee of Ukraine and the National Bank of Ukraine.

Smart-holding in July reached an agreement with Commerzbank for acquiring 96.06% in Forum Bank. Both parties reached a nondisclosure agreement for the purchase's terms.