Business news from Ukraine

“Kovalska” to acquire transportation company Winter Cargo

The Antimonopoly Committee of Ukraine (AMCU) has authorized Kovalska Syrovyna LLC of Kovalska Group to acquire a stake in Winter Cargo LLC (Kyiv).

According to the Committee’s decision of February 8, Kovalska Syrvoryna received permission to acquire a stake that ensures exceeding 50% of the votes in the supreme management body of Winter Cargo.

According to Opendatabot, Winter Cargo is engaged in cargo transportation by road and river transport. Its owner is listed as ZNVKIF Skyfall JSC, and the ultimate beneficiaries are Anna and Karina Zlochevsky, registered in Cyprus (daughters of the former Minister of Ecology and Natural Resources of Ukraine Mykola Zlochevsky – IF-U).

As reported, in 2023, Kovalska Group acquired companies and equipment for the extraction of river sand in Kyiv and Chernihiv regions. The company plans to produce up to 1 million tons of river sand per year.

Kovalska Industrial and Construction Group has been operating in the Ukrainian construction market since 1956. It unites more than 20 enterprises in the field of raw materials extraction, production and construction. Its products are represented by the brands Concrete by Kovalska, Avenue, and Siltek. Kovalska’s enterprises operate in Kyiv, Zhytomyr, Lviv, and Chernihiv regions. The aerated concrete plant in Kherson region has not been operating since the beginning of the occupation. The group also includes Kovalska Real Estate, which is engaged in the construction of residential properties in Kyiv. Its portfolio includes more than 20 completed residential projects.

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