12:42 07.12.2020

Cascade Investment Fund sold 20% of oil and gas company JKX

1 min read
Cascade Investment Fund sold 20% of oil and gas company JKX

Cascade Investment Fund, owned by Vitaliy Khomutynnik, sold 20% in oil and gas company JKX Oil & Gas to Bridgewater fund, said on the London Stock Exchange website, writes Interfax-Ukraine.

As reported, in 2019 JKX received $22.21 million in net profit, which is 45.6% better than in 2018. The increase in profitability is associated with an increase in revenue by 9.6% - to $101.74 million.

JKX Oil & Gas is engaged in the exploration and production of hydrocarbons. The Poltava Petroleum Company, owned by JKX (PPC, Poltava Petroleum Company, RRS) is one of the largest non-state oil and gas companies in Ukraine. It holds five production licenses and one for geological exploration, including pilot production.

JKX's largest shareholder is the Eclairs Group which owns a 27.54% stake.

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