Business news from Ukraine

Business news from Ukraine

BRITISH FUND DUET PRIVATE EQUITY CLAIMS TO BUY OCEAN PLAZA MALL – KOMMERSANT

21 October , 2019  

The British fund Duet Private Equity Ltd, part of Duet Group, claims to buy the Ocean Plaza trade and entertainment center in Kyiv.
“A new bidder, the British fund Duet Private Equity Ltd [part of Duet Group], appeared for the purchase of the Ocean Plaza mall controlled by TPS Real Estate,” the Kommersant edition said.
At the same time, Duet Private Equity and TPS Real Estate did not respond to requests from the publication. According to the edition, “the final clarity regarding the transaction will appear in three to four months.”
Duet Group was founded in 2002. Its portfolio includes projects worth more than $5.5 billion. In April 2019, Duet Private Equity acquired Gas Natural Fenosa, which manages most of Moldova’s energy networks, from the Spanish company Naturgy.
As reported, Lybid Investment Union LLC (Kyiv), which is the formal owner of the Ocean Plaza shopping center, in September 2019 amended the list of beneficial owners in the unified state register of legal entities and individuals.
According to the register, as of October 16, 2019, instead of the daughter of Russian businessman Arkady Rotenberg, Liliya, as well as Swiss citizens Andrea and Suzanne Vallabh, the ultimate beneficiary of Lybid became Ocean Plaza Project.
According to the register, Liliya Rotenberg also ceased to be listed as the founder of Avangard-Vilarti LLC (the owner of 100% of the charter capital of Lybid) in September.