12:38 19.11.2015

Securities commission permits purchase of Troika Dialog Ukraine by ICU

2 min read
Securities commission permits purchase of Troika Dialog Ukraine by ICU

The National Commission for Securities and the Stock Market of Ukraine has permitted ICU Holdings Limited (British Virgin Islands) to acquire Troika Dialog Ukraine asset management company and pension fund administrator LLC (Kyiv).

The commission said on its website that the decision was made at a meeting on November 17.

As reported, in early July 2015, ICU Group signed an agreement with public joint-stock company Subsidiary Bank Sberbank of Russia on the acquisition of 100% of the charter capital of Troika Dialog Ukraine LLC.

The deal was pending the approval of the Antimonopoly Committee of Ukraine, the National Commission for Securities and the Stock Market, and the national commission for financial services market regulation.

Troika Dialog Ukraine asset management company was founded in December 2007. It was previously part of Troika Dialog Group. The company has a license of the National Commission for Securities and the Stock Market. The company manages the assets of the largest occupational pension fund in Ukraine - Emerit-Ukraine, the founder of which is OJSC Ukrtelecom.

As of May 31, 2015, Troika Dialog Ukraine managed UAH 121 million.

ICU Group was founded in June 2006. It is comprised of an investment company, an assets management company, and the bank Avangard.

Until recently, the group's co-owner and CEO was Valeriya Gontareva, who was tapped to head the National Bank of Ukraine in June 2014 (she was nominated to the post by Ukrainian President Petro Poroshenko). After that, Gontareva sold her stake in ICU, and Makar Paseniuk and Konstantin Stetsenko remained partners.

The co-owners of the group are also Oleksandr Valchyshen and Volodymyr Demchyshyn, the energy and coal industry minister of Ukraine.

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