Nova Poshta intends to acquire Lviv-based Nova Develop
Nova Poshta LLC, the largest logistics operator in Ukraine from NOVA Group, intends to acquire Nova Develop LLC (Lviv region), the main activity of which is the provision of lease and operation of its own or leased real estate.
As the Antimonopoly Committee of Ukraine (AMCU) said, it granted Nova Poshta permission to acquire a stake that would provide it with over 50% of the voting shares on Nova Develop's board.
The state register indicates that Nova Develop, registered at the end of May 2023, is the legal successor of Best Logistic Group, which was engaged in the construction and leasing of logistics complexes and was part of the full-cycle development holding Globus.
Best Logistic Group has already collaborated with Nova Poshta in the construction of a sorting terminal in Lviv in 2019, investments in the creation of which amounted to almost EUR10 million, while Nova Poshta's investments amounted to approximately EUR4 million. According to co-founder of NOVA Group Viacheslav Klimov, Nova Poshta was responsible for the equipment, while Best Logistic Group was responsible for the construction of the building.
The Globus website indicates that its portfolio includes more than 10 projects at various stages of implementation with an area of 220,000 square meters, developed together with partners. Among them are premium and comfort class residential buildings, logistics terminals, business centers, hotels and multifunctional complexes, while the area of already completed projects is 96,000 square meters. It is also noted that the group is a strategic partner of Nova Poshta and has its own production base in the form of two concrete plants.
The charter capital of Nova Develop, according to the state register, is UAH 186.4 million, while that of Best Logistic Group was at UAH 1 million. The beneficiary through the corporate venture investment fund Magistrat Invest is Volodymyr Fenik.
The revenue of Best Logistic Group in 2022 amounted to UAH 46.87 million against UAH 36.62 million a year earlier, and the net loss increased to UAH 12.33 million from UAH 3.58 million.