Business news from Ukraine

Business news from Ukraine

Founder of Eskulab chain of medical laboratories announced risks of work stoppage due to attempted raider seizure

Eskulab Group of Companies, which manages the Eskulab medical laboratory chain (First Social Medical Laboratory (FSML) Eskulab and Eskulab Center LLC), has announced the risks of stopping the network’s operation due to an attempted raider seizure.

In an exclusive interview with Interfax-Ukraine, the network’s founder, Serhiy Dyadyushko, said that the network’s work is currently blocked due to the actions of its two co-founders, Stanislav Lugovskyi and Denys Melnyk.

According to Dyadyushko, the network’s commercial director, Roman Vysotsky, who represents Melnyk, has blocked the financial operations of Aesculab, and as a result, the network cannot purchase reagents for analysis, nor pay salaries to nearly 1,200 employees.

“Now we are short of reagents, we need to purchase them, people are not paid salaries. Payments have been suspended, which prevents the company from continuing to operate. I have already invested about UAH 5 million of my own money, but today I have already exhausted my resources. The entire network across Ukraine will stop working,” he said.

Dyadyushko clarified that the conflict between the co-founders arose in 2023, when Luhovskyi and Melnyk tried to re-register Dyadyushko’s share and remove him from the chain’s management. At the same time, the co-founders agreed to create a management board consisting of representatives of each of the co-founders.

“Thus, Vysotsky blocked financial operations at the end of March,” Dyadyushko said.

Dyadyushko has now turned to Ukrainian law enforcement agencies.

Melnyk, on the other hand, denies the allegations.

Eskulab Medical Laboratory is one of the three largest private laboratories in Ukraine, contracted by the National Health Service of Ukraine (NHSU). The network consists of five laboratory centers and 180 sample collection points in the western regions of Ukraine and Kyiv.

In 2023, Eskulab paid UAH 33.8 million in taxes, including UAH 14.97 million in unified social tax, UAH 1.33 million in military duty, and UAH 14.034 million in personal income tax. The company is among the ten largest taxpayers in Lviv region.

The co-founders of PE “PSML “Eskulab” are Dyadyushko, who owns 43% of the company, Luhovskyi (43%) and Melnyk (14%). The co-founders of Eskulab Center LLC are Dyadyushko, Luhovskyi and Melnyk, who each own 20% of the company, and Ruslana Soltani, who owns 40%.

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NJJ’s investment in Datagroup-Vola-Lifecell will amount to $1.5 bln

NJJ’s investment in Datagroup-Vola-Lifecell, owned by French billionaire Xavier Nel, will amount to $1.5 billion, which includes the purchase of 100% of the companies’ assets and investment commitments for five years.

“For Ukraine, in fact, the issue of $1.5 billion in investments is being resolved, which includes the amount of the deal and capital investments to be made in the next five years,” Datagroup-Vola-Lifecell CEO Mykhailo Shelemba told Interfax-Ukraine.

He also noted that Datagroup-Vola-Lifecell, which will be established after the deal is completed, plans to participate in auctions for the allocation of 2355-2395 MHz, 1935-1950/2125-2140 MHz and 2575-2610 MHz mobile radio frequencies, which the National Commission for the State Regulation of Electronic Communications, Radio Frequency Spectrum and Postal Services may hold in August.

“Frequencies are the main asset for any mobile operator. Lifecell currently has enough frequencies to provide quality services, but we want to grow and will need more frequencies,” Shelemba said.

He emphasized that the entry of such an investor as NJJ into the tender “will increase competition for frequencies by an order of magnitude, so the state will be able to raise more money.”

“And we are talking about tens of millions of dollars…” Shelemba said.

Earlier it was reported that the investment company NJJ, owned by French billionaire Xavier Nel, will merge their assets into a single company that will offer customers a triple package of services after the acquisition of Datagroup-Volia fixed-line telecommunications operator and lifecell mobile operator. Mr. Shelemba will head the combined Datagroup-Volia-Lifecell platform. Pierre Danon, the current chairman of the supervisory board of Datagroup-Volia, will also continue to serve as chairman of the supervisory board of the combined entity.

The transaction is subject to final regulatory approvals and other closing conditions. As reported earlier, the Antimonopoly Committee of Ukraine (AMCU) has found grounds to ban the acquisition of control over Lifecell Group by DVL Telecom, a member of the NJJ group of French billionaire Xavier Niel. At a meeting on March 7, the AMCU allowed DVL Telecom to acquire control of Datagroup Holding Limited (Datagroup-Volya).

Turkcell CFO Kamil Kalyon confirmed during the investor Q&A session at the company’s 2023 financial results presentation that the transaction with NJJ was set at $525 million at the time of closing, but the final amount would be subject to adjustment.

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From April 24 to May 7, Sweden will host second edition of European Festival: Ukrainian Spring”

From April 24 to May 7, 2024, Sweden will host the European Festival: Ukrainian Spring, which this year will bring together 12 cultural events. Stockholm will host a variety of events that reflect Ukraine’s interaction with the European cultural context in different ways.

The concept of the festival is to present Ukraine as an integral part of the common European cultural heritage. This connection is emphasized by the festival’s slogan: “Reflections in each other’s eyes – Ukraine in Europe and Europe in Ukraine.”

The organizers are convinced that today the ultimate goal of all cultural events dedicated to Ukraine abroad should be to focus public attention on Ukraine’s struggle and victory in the war unleashed by Russia. And the primary task is to once again remind people of the need for increased assistance to protect us from the aggressor.

Therefore, this year, each of the 12 days of the festival will be dedicated to one of the Ukrainian artists who went to defend their country and died at the front.

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Ukraine and Slovakia to hold business forum in fall

Ukraine and Slovakia intend to hold a joint Ukrainian-Slovak business forum in the fall of 2024, Ukrainian Prime Minister Denys Shmyhal said.

“We have invited representatives of Slovak business and government to the Recovery Conference to be held in Berlin in June this year. Based on its results, we plan to organize a joint Ukrainian-Slovak business forum in the fall,” Shmyhal said at a joint briefing with Slovak Prime Minister Robert Fico on Thursday.

According to him, the forum will clearly discuss the prospects for investing in the economies of the countries.

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Hungarian government to impose additional restrictions on imports of agricultural products from Ukraine

The Hungarian government will impose additional restrictions on imports of agricultural products from Ukraine to protect Hungarian farmers, the Associated Press reported on Thursday, citing a statement by Agriculture Minister István Nagy.

“The European Union’s decision to allow duty-free imports of goods from Ukraine in 2022 to help its economy stay afloat has led to a large oversupply and low prices on the European agricultural market,” Nagy said at a press conference.

Speaking about the planned new measures against Ukrainian products, the minister explained that the restrictions will now also include processed grain products.

He pointed out that officials in Brussels, in Budapest’s view, ultimately failed to protect European farmers who are unable to compete with cheap Ukrainian goods, and noted that this is why Hungary will introduce additional restrictions at the national level.

Last year, Hungary imposed a ban on the import of 24 Ukrainian agricultural products. The ban applies to grain, flour, vegetable oil, some meat products and other goods. Transit was not affected by this measure.

In March, an agreement on the temporary suspension of import duties and quotas on Ukrainian products entered into force in the EU, the agency said.

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Ukraine’s leading business associations once again ask to finalize draft bill on BEB

Business associations under the auspices of the Ukrainian Business Council are asking to finalize the government’s updated draft law on the Economic Security Bureau (#10439), as it leaves unaccounted for important proposals that jeopardize the reboot of the BEB.

“The most critical of the unaccounted proposals is the composition of the competitive commissions for the recertification of personnel and the mechanism for conducting the recertifications,” the 17 associations said in a statement circulated Thursday.

In their opinion, the detailed mechanism of re-certification should be set out in the draft law, and the commissions themselves should have a predominant voice of international experts who have an impeccable reputation and are well versed in the problems of law enforcement agencies.

Among other ignored proposals, the business pointed out the strengthening of the analytical function of the Bureau by providing free access for the BEB to existing state information systems and establishing criteria for the effectiveness of the work of the renewed BEB and their constant monitoring.

In addition, the appeal notes, it is important to limit access to positions in the BEB to persons with a dubious reputation based on the principle of reasonable doubt, given the small number of corruption cases that have resulted in convictions.

It is also crucial to retain in the final version of the draft the right to an overwhelming vote of international experts when electing the chairperson of the OIE, the document says.

In addition, in order to establish safeguards against unlawful pressure on business by law enforcement agencies, simultaneously with the reset of the BEB, the business requires amendments to the Code of Criminal Procedure regarding the introduction of standards of prosecutorial activity, limiting the powers of the National Police and the BEB in terms of assigning instructions to SBU operatives, ensuring the possibility of appealing to the investigating judge against any actions or inaction of the investigator, inquirer, prosecutor.

In addition, the business proposes to introduce a ban on reopening proceedings on the same grounds and seizure of material assets not specified in the ruling of the investigating judge, to establish responsible storage and immediate return to the owners of seized property after the decision, to select a reasonable level of bail and interim measures.

Among other requirements – to impose on investigating judges the obligation to verify compliance with the requirements of jurisdiction and to return the terms of pre-trial investigation and the procedure for their extension in actual criminal proceedings, except for serious and especially serious crimes, referred to the jurisdiction of NABU.

At the same time, the associations noted that the updated government bill on the BEB took into account a number of proposals of the business community, in particular, the election of applicants for the post of the head of the Bureau by a commission with a predominant vote of international experts, immediate recertification of all employees of the Bureau and audit one year and three years after the appointment of a new head.

According to the forecast of Yaroslav Zheleznyak, the first deputy of the Rada’s specialized committee, the bill #10439 will be put to a vote in the first reading as early as Thursday.

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