The National Bank of Ukraine (NBU) has approved VS Bank (Lviv) merger with TAScombank (Kyiv) under a simplified procedure, VS Bank reported on its website.
“On July 11, 2018, VS Bank received the NBU’s permission for reorganization via the merger of VS Bank with TAScombank under the simplified procedure,” reads the report.
The merger will be conducted in line with the reorganization plan approved at the general meeting of shareholders of each bank and a merger agreement. TAScombank will become the legal successor of VS Bank’s rights and obligations.
TAS Group was founded in 1998. It has assets in the financial and industrial sectors, agriculture, real estate, pharmaceuticals, and venture projects. The financial sector of the group includes TAScombank, Universal Bank, VS Bank, two insurance companies and several other organizations. The founder and the main shareholder of the group is Sergiy Tigipko.
According to the NBU, as of January 1, 2018 the major owner of TAScombank was Sergiy Tigipko, who owned 99.86851% of securities.
Sberbank sold VS Bank as part of the implementation of its strategy to leave the Ukrainian banking market.
Nine insurance companies led Insurance Top ranking in terms of collection of insurance premiums in Ukraine’s regions in January-March 2018. TAS Insurance Group became leader in ten regions.
According to the ranking, TAS Insurance Group in Volyn region (raised UAH 16.5 million and paid UAH 4.3 million), in Zhytomyr region (UAH 9.3 million and UAH 3.3 million respectively), in Ivano-Frankivsk region (UAH 10.2 million and UAH 4.2 million), in Kirovohrad region (UAH 6 million and UAH 1.5 million), in Luhansk region (UAH 2.1 million and UAH 614,000), in Mykolaiv region (UAH 11.8 million and UAH 3.4 million), in Sumy region (UAH 5.4 million and UAH 2.1 million), in Ternopil region (UAH 20.3 million and UAH 6.2 million), in Khmelnytsky region (UAH 7.6 million and UAH 1.6 million), in Cherkasy region (UAH 10 million and UAH 5 million).
Alliance Insurance Company led in Dnipropetrovsk region (raised UAH 105 million and paid UAH 21 million), Asko-Donbas Pivnichny – in Donetsk region (UAH 12.8 million and UAH 3.8 million respectively), Globus Insurance Company – in Zakarpattia and Chernivtsi regions (UAH 13 million and UAH 6 million; UAH 2.8 million and UAH 886,000), Credo Insurance Company – in Zaporizhia region (UAH 216.4 million and UAH 46 million), AXA Insurance – in Poltava and Kherson regions (raised UAH 15 million and UAH 7.6 million respectively), Oranta – in Chernihiv region (UAH 12 million and UAH 2.8 million), Kniazha Insurance Company – in Vinnytsia region (UAH 15 million and UAH 7 million).
PZU Ukraine raised the largest amounts in premium collection in January-March 2016 in Lviv region (raised UAH 27.2 million and paid UAH 30.6 million), Kharkiv region (UAH 6.8 million and UAH 5.2 million respectively), and Rivne region (UAH 5 million and UAH 2 million).
Arsenal Insurance led in terms of premium collection in Kyiv and Kyiv region (raised UAH 434 million and paid UAH 42 million). It was followed by AXA Insurance with UAH 264 million and Ukrainian Insurance Group with UAH 160 million.
Japanese corporation Sumitomo will acquire a 51% stake in Spectr-Agro LLC (Kyiv region), a supplier of mineral fertilizers, seeds and equipment to Ukrainian agricultural enterprises. A corresponding agreement was signed between the corporation, Spectr-Agro and Spectr-Agrotechnika LLC on July 11, the Ukrainian company said on Facebook.
“Over 30 years ago, Sumitomo founded the agri-scientific business line (ASBL), starting with the export of plant protection products from Japan, Sumitomo is actively engaged in expanding the supply chain, constantly developing wholesale and retail distribution channels. Today, this activity is carried out in 30 countries around the world. The acquisition of Spectr-Agro is a continuation of the development of Sumitomo’s business in trading in agricultural resources,” the report said.
Spectr-Agro is expected that the acquisition transaction will contribute to the expansion and growth of the company’s activities in Ukraine.
Spectr-Agro was founded in 2009, currently it operates throughout Ukraine. It supplies such agricultural resources as plant protection products, mineral fertilizers, seeds and agricultural equipment to more than 3,500 agricultural producers in the country.
As of October 2017, the company was co-owned by Vasyl Skarlat with a 50% stake, Maria Lavreniuk with 25%, and Volodymyr Lobach with 25%.
In the third quarter of 2017, the company posted UAH 28.205 million in net profit, its revenue was UAH 2.999 billion.
PJSC Agrarian Fund sold 700 tonnes of grain, 34,200 tonnes of flour and 103,000 tonnes of mineral fertilizers in April-June 2018, the Ministry of Agrarian Policy and Food reported on the website. In the second quarter of this year, the Agrarian Fund’s revenue amounted to UAH 1 billion, the company’s net profit after the payment of corporate profit tax was UAH 2.2 million against an expected loss of UAH 28 million, it said.
The ministry says that flour was sold by the Agrarian Fund in wholesale and retail batches, including in retail outlets under its own brand.
Dragon Capital Investments Limited, a member of the Dragon Capital group of companies, has acquired Eco Tower, a 17,000 sq m business centre in the city of Zaporizhia.
The company acquired the business centre from Conwert Group (Austria), the buyer said in a statement on its website.
The deal value is not disclosed.
“I am very pleased to mark our first real estate acquisition in eastern Ukraine. This investment illustrates our confidence in the stability and business potential not only of Kyiv and Kyiv region, but also of key economic regional hubs of the country, of which one is Zaporizhia,” CEO of Dragon Capital Tomas Fiala has said.
Eco Tower is the largest Class A business centre built in 2011. Its building has 19 floors and two levels of underground parking for 92 cars. It is located at 160 Soborny Avenue in the centre of the city.
Only innovative entrepreneurs can buy apartments in UNIT.City Innovation Park. Vasyl Khmelnytsky, an entrepreneur and founder of UNIT.City, made this statement in an interview for AIN. “We have already built and sold about three million square meters and know this market well. We want to turn the idea into reality: to sell apartments only to people who promote innovations. When they go out for a walk here in the evening, they will start discussing something and can come up with a brilliant idea together. We see a blue ocean in it: we create the enabling environment where a success case can meet another success case, resulting in something greater. This is an experiment,” the businessman underlined.
He said he realized that such approach would put some restrictions on the company and narrow down a range of potential buyers. However, it is essential for him to make UNIT.City a home for visionaries, not for officials or people who deal with trade or cash-out transactions.
Vasyl Khmelnytsky placed emphasis that UNIT.City meant not simply buildings, but a big infrastructure facility focused on innovations and education.
When asked if people who deal with IT innovations and earn €20,000-40,000 a year can afford housing in UNIT.City, Mr Khmelnytsky said that it would be quite possible. With $1,500 per square meter, a 50 sq m apartment would cost $75,000. With a four-year installment plan offered by the businessman, it would cost about $20,000 a year.
According to Vasyl Khmelnytsky, UNIT.City is a long-term project where one can expect return on investment in several years only. Therefore, it is hard to go without international partners. To this end, the company has initially focused on global standards in construction technologies and transparency in financing.
The businessman pointed out that he planned to extend these practices to other regions of Ukraine. The company has already started building UNIT.City in Lviv and plans to do so in Kharkiv. Vasyl Khmelnytsky said $50 million has been invested in the project up to date. According to his estimates, total investment will amount to $700-800 million to be partly financed with office rental income and sales of apartments.
Vasyl Khmelnytsky said he had a strategy to develop UNIT.City. The park is expected to be completed in 2025. However, much depends on the demand for buildings and on the political environment, he said.
“UNIT.City is now completing two buildings, with 75% of each being already commissioned. This is an excellent performance for the local market, as it is typical for Ukraine to commission buildings for two years. Now we have a request for several new buildings at once, so a couple of construction projects are underway simultaneously. However, tomorrow something can happen, for example, the political situation will change in the country, bringing our entire strategy down. Our further actions may change. Therefore, I do not make any fixed plans. The company has the opportunity to build residential facilities here for two years or for five years — everything will depend on the demand,” Mr Khmelnytsky said, describing the project in a nutshell.
