Britain’s Ferrexpo Plc with assets in Ukraine is mulling the squeeze-out at private joint-stock company Poltava Mining (Poltava region), the largest iron ore pellet producer in Ukraine.
The company told Interfax-Ukraine that the issue is being analyzed.
“Ferrexpo plans to take this way,” the group said.
Currently, Ferrexpo Plc owns 100% of Ferrexpo AG, which, in turn, owns 99.11% of the shares of Poltava Mining and 100% of the shares of Yeristovo Mining.
In Ukraine, after updating the legislation, a number of companies initiated a squeeze-out procedure in enterprises in which their share exceeds 95%.
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It mines, processes and sells high quality iron ore pellets to the global steel industry.
Odesa cognac factory, one of the largest cognac producers in Ukraine, received UAH 5.4 million in net profit in 2017 against UAH 115,000 in net loss in 2016.
According to the company’s report on holding a shareholders’ meeting on April 15, its assets for the year increased by almost 32.8%, to UAH 1.05 billion, while fixed assets decreased by 13.9%, to UAH 77.62 million.
Uncovered loss in 2017 decreased by 19.1%, to UAH 22.9 million. Long-term liabilities of the enterprise decreased by 2.6%, to UAH 340.45 million, while current liabilities increased 1.8-fold, to UAH 571.7 million.
Total debtor indebtedness amounted to UAH 625.9 million.
Odesa cognac factory a part of Global Spirits holding, which also unites Khortytsa distillery, Poltava distillery. The structure also includes distribution units: Ukrainian Distribution Company, Khortytsa Trade House, and Megapolis USA.
Capital expenditures of the national budget of Ukraine in 2017 increased by UAH 14.2 billion, or by 53%, compared to 2016, to UAH 40.9 billion, Deputy Finance Minister Serhiy Marchenko said, when presenting the national budget figures in Kyiv. According to the materials presented, total expenditure of the budget last year amounted to UAH 839.5 billion, which is 3.6% less than the target.
According to him, the ministry estimates the growth of capital expenditures as one of the main successes of the national budget along with the reduction in the actual deficit to UAH 47.9 billion, or 1.6% of GDP.
According to the ministry, in 2016 capital spending amounted to UAH 26.6 billion, in 2017 some UAH 17.5 billion. The revenues of the general fund of the national budget for 2017 amounted to UAH 698.4 billion against the planned UAH 702 billion, Marchenko noted.
Cypriot-based Ensitar Limited, owned by the businessman, the former head of the presidential administration, Borys Lozhkin, has acquired a 49% stake in the developer of a residential complex in Hilden, the satellite city of Dusseldorf (Germany), from the German developer Liwon Real Estate GmbH. “In July 2017 Lozhkin’s Ensitar Limited acquired a 49% stake in the newly established Liwon Hilden GmbH. Some 51% of its shares belong to the German developer Liwon Real Estate GmbH. The company implements projects for construction of commercial and residential real estate throughout Germany, buys land plots for them and agrees projects with the local authorities. Investors are attracted to finance construction,” Deutsche Welle reported.
It also notes that, according to the German trade register, ex-Minister of Infrastructure of Ukraine Andriy Pyvovarsky is the executive director of Liwon Hilden developer, established in 2017.
According to the publication, the completion of the residential complex is scheduled for the end of 2019. The infrastructure of the facility includes 115 apartments with shops and an underground parking lot. The complex will appear on the site of the old shopping center, the demolition of which is planned for the near future. As reported, Samaan Capital with a charter capital of UAH 1.25 million, owned by Cypriot Ensitar Limited and whose ultimate beneficiary is Borys Lozhkin, was includes in the single state register in late May 2016.
The Cabinet of Ministers of Ukraine has amended the rules for issuing long-term visas for entry to Ukraine for foreign investors. “The government promotes attracting foreign investments to Ukraine. In particular, changes were made in the rules for issuing visas for entry to Ukraine and transit through its territory in order to provide foreign investors with the possibility of obtaining a long-term Ukrainian visa,” reads an explanatory note to the cabinet resolution No. 171 of March 14.
According to the document, long-term visas can be issued to foreigners and stateless persons who are the founders (participants, beneficial owners/controllers) of a legal entity registered in Ukraine, if the share of such persons or the foreign legal entity in the charter capital of the Ukrainian legal entity is not less than EUR 100,000 at the official exchange rate established by the National Bank of Ukraine as of the date of making foreign investment.
In particular, the Cabinet supplemented the list of documents that can be submitted for a long-term visa with information that confirms the foreigner’s share in the amount of not less than EUR 100,000.
Ukraine plans to expand geography of exports of Ukrainian wheat to the markets of China and Vietnam in 2018, as well as relax supplies to Indonesia, the State Service of Ukraine for Food Safety and Consumers’ Protection has reported. “The export of wheat from Ukraine in 2016/2017 agricultural year amounted to more than 17.5 million tonnes, while Indonesia ranked fourth in the system of Ukrainian wheat exports – more than 1.6 million tonnes (9%). At the same time, in 2017/2018 agri-year Indonesia was the first in the statistics for wheat exports – more than 1 million tonnes,” Head of the authority Volodymyr Lapa said at a meeting with the representatives of the Grain and Oilseed Committee of the European Business Association (EBA).
The annual export of grain and oilseeds from Ukraine is about 40 million tonnes, he said.
The meeting participants also discussed the current state of grain exports and phytosanitary requirements of partner countries in international trade.
Deputy Head of the Department of Phytosanitary Security, Head of Plant Quarantine Department of the Department of Phytosanitary Security and Control in the Seed Industry of the State Service for Food Safety and Consumers’ Protection Vadym Chaikovsky said that when forming export batches of crops and crop products, it is necessary to comply with the phytosanitary requirements of the partner countries of Ukraine. If necessary, free areas from pests should be established and be prepared for an annual inspection of agricultural crops for export to China.
