The Antimonopoly Committee of Ukraine has permitted ex-director general of Hyundai Motor Ukraine LLC Ihor Hladkovsky to acquire a controlling stake in the official distributor of the Hyundai brand in Ukraine.

The committee said last week that the acquisition of the stake in Hyundai Motor Ukraine LLC, part of the Bogdan Corporation, would grant over 50% of the votes in the management body of the company to Hladkovsky.

As reported, Hladkovsky was appointed general director of Hyundai Motor Ukraine at the end of 2015 after the voluntary resignation of Viktor Oransky.

At the same time, as the spokesperson of the corporation Serhiy Krasulia told Interfax-Ukraine, Hladkovsky resigned as the director general of the company last year due to the need to study abroad and the inability to carry out operational management.

Currently, the company's director general is Hennadiy Chetverukhin, previously he was the company's commercial director.

According to the public register, among the co-owners of Hyundai Motor Ukraine LLC with the charter capital of UAH 7.35 million are registered in Cyprus Autoretail Holding Limited with a 15.1% stake, VEHICLES Distribution Holdings with 18.4% and H.U.D.C. Limited with 24%, as well as Bogdan Industry LLC that owns 20.5% and closed non-diversified venture corporate investment fund Breeze with 15.5%. Hladkovsky holds 6.5% of the company.

Hyundai Motor Ukraine has about 60 dealerships in the country. According to the information-analytical group Auto-Consulting, in 2017, 4,283 Hyundai cars were sold in Ukraine, or 27.2% more than in 2016, and the share in the market of new passenger cars was 5.34% against 5.22% % a year earlier.