Business news from Ukraine

UKRAINIAN BUSINESSMAN TIGIPKO WANTS TO BUY RADISSON BLU HOTEL IN KYIV

The Antimonopoly Committee of Ukraine (AMC) is considering the issue of permits to Devisal Limited (Nicosia, Cyprus), owned by Ukrainian businessman Sergiy Tigipko, to buy shares in Wesla Investments Limited (the British Virgin Islands).
According to the AMC’s agenda, the deal will provide Devisal Limited with over 50% of the voting shares on the board of Wesla Investments.
According to the unified state register, Wesla Investments Limited is the only participant with a 100% share in the charter capital of Veon Plus LLC (Kyiv), which is the owner of Radisson Blu Hotel in Podil. The ultimate beneficiary of the company as of October 3 is Moldovan citizen Victor Garaba.
Until June 2016, according to the state register, the ultimate beneficiary of Veon Plus LLC was Russian citizen Sergey Kovalev.
As reported, with reference to the CMS legal group, the transaction for the purchase of Radisson Blu Hotel in Podil by Sergiy Tigipko was completed in 2016, its cost amounted to EUR 9.2 million.

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UKRAINIAN PRESIDENT ZELENSKY MEETS WITH AMERICAN ACTOR TOM CRUISE IN KYIV

American actor Tom Cruise has arrived in Kyiv at the invitation of Ukrainian President Volodymyr Zelensky.
Zelensky met with Cruise in his office on September 30, according to the website of the President’s Office.
“During the meeting, Cruise told Zelensky that he was interested in Ukrainian locations for the filming of one of his new film projects. This was another reason to visit our country,” the website said.
Zelensky, in turn, told Cruise about his experience working in cinema.
He noted that recently the Ukrainian parliament passed a law on compensation to foreign producers who make films in Ukraine. Zelensky said the law law would make Ukraine attractive for to international filmmakers for investment.

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IBOX BANK FROM KYIV DECIDES TO INCREASE CHARTER CAPITAL BY 50%

IBOX Bank (Kyiv) has decided to increase its charter capital by UAH 100 million, or by 50%, to UAH 300.004 million through an additional issue of shares.
According to a bank report in the information disclosure system of the National Commission for Securities and the Stock Market, its shareholders decided to increase charter capital at a general meeting on September 25.
The shares will be offered at a price of UAH 1.18 per share, which equals its nominal value, without making a public offer.
The bank plans to use financial resources raised during share placement to bring regulatory capital in line with the requirements of the National Bank of Ukraine (NBU), the report said.
According to the NBU, at the beginning of August 2019 Volodymyr Drobot owned 54.991842% of the bank’s shares, Oleksiy Putiatin some 9.970795%, Ihor Khmelev some 9.897932%, Yevhen Berezovsky some 6.122%, Iryna Shpileva some 5.122519%, Oleksandr Smaliy some 4.70397%, and Natalia Konzurovska some 4.301307%.
IBOX Bank was founded in 1993.
The bank ranked 63rd among 76 banks operating in the country on July 1, 2019 in terms of total assets (UAH 820.014 million), according to the NBU.

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ARSENAL INSURANCE (KYIV) RAISES KASKO PREMIUMS BY THIRD

Arsenal Insurance (Kyiv) for the six months of 2019 increased the volume of KASKO premiums by 33.6%, to UAH 383 million, according to a press release from the company.

“According to data of the Insurance TOP rating of insurers, the company showed the highest dynamics of growth in insurance premiums among the top five players (33.6%), as well as a high level of insurance payments (48.9%),” the press release said.

The company also reports that its share in the KASKO market exceeded 10% (the entire market collected UAH 3.77 billion).

The company insured more than 25,000 cars under KASKO contracts (7.33% of all cars insured under KASKO in Ukraine), including private car owners and corporate clients. OSAGO premiums grew by 7.4% and amounted to UAH 80.5 million.

It is also noted that for the first half of 2019, the insurer reimbursed for losses under KASKO insurance contracts to its customers in the amount of UAH 187.5 million, while OSAGO claim fee payments amounted to UAH 41.9 million.

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PRESIDENT OF UEFA ALEKSANDER CEFERIN ARRIVES TO KYIV ON TWO-DAY VISIT

President of the Union of European Football Associations (UEFA) Aleksander Ceferin has come to Kyiv on a two-day visit, the Ukrainian Association of Football (UAF) reports. “Today, on September 4, UEFA President Aleksander Ceferin has arrived in Kyiv on a two-day visit. The president of the UAF, member of the UEFA Executive Committee Andriy Pavelko met the distinguished guest, whom he personally invited to visit Ukraine,” the UAF press service reported.
It is noted that the visit of the UEFA President is very eventful and important for Ukrainian football.
Ceferin visits Ukraine for the third time in the status of UEFA President. The last time he stayed in Kyiv was during the UEFA Men’s and Women’s Champions League finals in May 2018.

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UKRAINIAN CABINET MAKES SUBMISSION TO PRESIDENT TO DISMISS VITALI KLITSCHKO FROM POST OF KYIV ADMINISTRATION HEAD

The Cabinet of Ministers of Ukraine has agreed on the dismissal of Head of Kyiv City State Administration Vitali Klitschko.
“We turned to the President’s Office regarding the dismissal of Klitschko,” Honcharuk said at a government meeting on Wednesday.

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