A deal to sell Mriya agroholding could take place only after the completion of restructuring of its old debt, the agroholding’s press service has reported. According to the report, there is the interest of potential investors to the company. In particular, in 2017, Kernel and several large agricultural market players offered creditors of Mriya to buy the company. In 2018, some offers from Ukrainian and international companies arrived.
“For our creditors, the current owners of Mriya, agriculture is not a core business, and servicing the working capital of Mriya is a compulsory measure. Therefore, as I have repeatedly said, the arrival of a strategic investor is an ideal option for the further development of Mriya,” the press service said, citing Mriya CEO Simon Cherniavsky. According to him, before the completion of debt restructuring, there is neither a subject of a potential transaction nor a legal mechanism for its implementation.
“We have completed the restructuring of the most of the secured debt and started implementing the agreements reached with unsecured creditors. At this stage we have faced a number of difficulties related to the novelty and uniqueness of the procedure for the Ukrainian legislation and the enforcement system, which delays the process. I would refrain from giving forecasts,” CEO said.
Mriya said that the working capital of the agroholding today is financed by its creditors, mainly – bondholders from the United States and Europe. “We have funds in the full amount for this season: we have enough funds for sowing and harvesting, paying rents, fulfilling social obligations and even replenishing the technical park and investing in technology development. Mriya is working in a usual mode and is confidently looking to the future,” said Cherniavsky said. Previously, the media reported that negotiations about the possible purchase of Mriya by Continental Farmers Group are being held.
Raiffeisen Bank Aval (Kyiv), which earlier was a potential bank for sale, seeks to step up development in the coming years, First Deputy Board Chairman Gerhard Bösch has said. “In the past two years we showed a marked increase in Ukraine and we have ambitious plans regarding business growth in the next three years,” he said at a press conference. Bösch did not give the details of the plans. He expressed doubt that the previous plans of Raiffeisen Bank International AG (RBI, Austria) to sell the Ukrainian subsidiary are remain in force.
“I do not know if these negotiations are held. They were held in 2013 and were stopped along with the events in Maidan. In 2017, Raiffeisen Bank Aval showed itself as the most profit-making bank in the RBI group. We consider ourselves the best asset in the group, and as a rule, these assets are not sold,” he said.
Raiffeisen Bank Aval was founded in 1992. As of June 30, 2017, Raiffeisen Bank International (RBI, Austria) owned 68.28% of the Ukrainian bank’s charter capital, while the European Bank for Reconstruction and Development (EBRD) held 30%.
Raiffeisen Bank Aval ranked fifth in terms of assets worth UAH 72.108 billion among 84 operating banks as of January 1, 2018, according to the National Bank of Ukraine.
Public joint-stock company Raiffeisen Bank Aval (Kyiv) saw a 17% rise in net profit in 2017, reaching UAH 4.469 million.
According to an announcement on holding a general meeting of shareholders on April 27, 2018, a copy of which has been forwarded to Interfax-Ukraine, the bank’s assets last year grew by 18.4%, to UAH 66.297 billion, including UAH 36.845 million of loans issued to clients, taking into account reserves (31.6% up year-over-year), UAH 5.727 billion in investment securities (2.7% up), UAH 10.297 billion of cash and its equivalents (0.04% up) and UAH 13.428 billion of other assets (14% down).
The draft decision of the meeting envisages sending UAH 4.244 billion of net profit for 2017 to pay dividends to holders of ordinary shares.
The shareholders also plan to change the type of the company from public one to private JSC, approve the supervisory board with the following members: Martin Gruell (head of the supervisory board), Andriy Stepanenko (deputy head), Joseph Eberle, Harald Kröger, Robert Fritz, Andreea Moraru, Anna Derevyanko, Pavlo Sheremeta and Daniel Bilak (the three last one are independent members).
Raiffeisen Bank Aval was founded in 1992. As of June 30, 2017, Raiffeisen Bank International (RBI, Austria) owned 68.28% of the Ukrainian bank’s charter capital, while the European Bank for Reconstruction and Development (EBRD) held 30%.
Raiffeisen Bank Aval ranked fifth in terms of assets worth UAH 72.108 billion among 84 operating banks as of January 1, 2018, according to the National Bank of Ukraine.
Ukraine has joined the Global Beneficial Ownership Register, Deputy Justice Minister of Ukraine on European Integration Serhiy Petukhov has said.
The Ministry of Justice of Ukraine has implemented the provisions of 2009/101/EC Directive on disclosure of information by companies, which ensured information transparency of the activities of legal entities and disclosure of data on the ultimate beneficiaries in the Unified State Register, Petukhov said at a briefing in Kyiv on Tuesday.
“Thus, Ukraine has become the first country to join the Global Beneficial Ownership Register,” the press service of the Justice Ministry quoted Petukhov as saying on Tuesday.
Public joint-stock company Tavria Vintage Cognac House (Kherson region) saw UAH 31.12 million of net profit in 2017, which is 56.5% less than a year ago (UAH 71.66 million).
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market on holding a general meeting of its shareholders on April 27, its assets last year grew UAH 2.294 billion from UAH 2.087 billion in 2016. Undistributed profit at the end of 2017 was UAH 499.88 million, which is 6.6% more than in 2016 (UAH 468.77 million). Noncurrent liabilities slightly grew, accounting for UAH 559.86 million and current liabilities rose by 14%, to UAH 1.177 billion.
Tavria Vintage Cognac House is one of the largest wineries in Ukraine. The following brands of cognac are made at Tavria Vintage Cognac House: Tavria, Borisfen, Georgievskiy, Jatone and ALeXX. Its own raw materials supply base includes 1,400 hectares of vineyards.
