14:48 19.10.2018

Competition agency permits Tigipko to buy Kuznya on Rybalsky plant

1 min read
Competition agency permits Tigipko to buy Kuznya on Rybalsky plant

The Antimonopoly Committee of Ukraine has permitted Sergiy Tigipko to acquire over 50% of shares in private joint-stock company Kuznya on Rybalsky plant (Kyiv) indirectly via Avins Limited (Cyprus).

"Citizen of Ukraine was permitted [indirectly via Avins Limited (Cyprus)] to acquire shares in PrJSC Kuznya on Rybalsky plant (Kyiv, Ukraine), which will grant over 50% of the votes in the management body of the company," the committee said in an official report on Friday.

As reported, the committee received Tigipko's application on September 26, 2018.

Earlier the TAS Group belonged to Tigipko said that the group has reached a preliminary agreement on acquisition of PrJSC Kuznya on Rybalsky Plant.

"After receiving a permit from the regulator, the sides plan to continue finalizing the deal," the group said.

The cost of the deal and the term for finalizing it are not disclosed.

Kuznya on Rybalsky is a famous shipyard on the Ukrainian market. The key shareholder in the plant privatized in 1995 is the non-diversified corporate investment fund Prime Assets Capital (earlier Petro Poroshenko fund, Kyiv).

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