Sergiy Tigipko’s TAS Group has acquired PrJSC Kyiv-based AB Stolychny asphalt and concrete plant.
Serhiy Samusev withdrew from among the plant’s shareholders by selling his stake consisting of 34,467,029 shares, which is 47.89% of the enterprise’s charter capital, the company said in the National Securities and Stock Market Commission’s information disclosure system.
Luregio Limited (Cyprus) became the new shareholder of AB Stolychny after it had purchased the shares owned by Samusev.
Meanwhile, the Antimonopoly Committee of Ukraine (AMCU), by a decision of December 13, granted permission to Cyprus T.A.S. Overseas Investments Limited whose main shareholder is Sergiy Tigipko, to purchase shares of Luregio Limited, which will provide an excess of 50% of the vote in the company’s supreme management body.
PrJSC AB Stolychny’s main shareholders as of the third quarter of 2019 were Samusev and Tigipko with shares of 47.9% and 22.6%, respectively, as well as Cyprus-based Forwincom Limited (24.7%). As of the end of 2017, the said stake belonged to Veker Limited. Samusev is listed as the ultimate beneficiary of the company as of December 16, 2019.
As reported, AB Stolychny in 2018 reduced its net profit by 35% from 2017, to UAH 38.6 million. Net income from product sales increased by 21.2%, to UAH 362.9 million. In 2018, AB Stolychny paid UAH 46.8 million in dividends to shareholders.
AB Stolychny was established in 2004 on the basis of a concrete, reinforced concrete, construction materials plant (municipally owned Concrete Products Plant before 1997). It produces asphalt mix for the construction and repair of roads. It also markets reinforced concrete products for underpasses, collectors, and other engineering and road construction facilities.
According to the State Register of Legal Entities and Individual Entrepreneurs, AB Stolychny’s charter capital as of December 2019 was UAH 17.99 million.
The TAS Group was founded in 1998. It has assets in the financial and industrial sectors, agriculture, real estate, pharmaceuticals and venture projects. The group’s financial sector includes TAScombank, Universal Bank, VS Bank, two insurance companies, and a number of other organizations. The founder and main shareholder of the group is Tigipko.
Odesa-based Automagistral-Yug has launched an asphalt concrete factory in Novomoskovsk, Dnipropetrovsk region, the company’s press service has reported.
According to the report, the factory is the 15th production facility of the company in Ukraine and the fourth in Dnipropetrovsk region.
“The factory in Novomoskovsk is built at our industrial base. We have completely restored our facility – we have overhauled and equipped a dormitory for 120 people, renewed the railway tracks, the laboratory and the repair base. About UAH 60 million was invested in construction of the factory. The total investment in production facilities in Dnipropetrovsk region is approaching UAH 150-170 million over the past few years,” Director General of Automagistral-Yug Mykola Tymofeyev said.
According to the company, the production capacity of the factory in Novomoskovsk is 240 tonnes of asphalt per hour. The new enterprise will allow the company to implement the construction of high-speed highway H-31 (Dnipro-Kobeliaky-Reshetylivka). According to the director general, the company began work on the highway last year and should build 57 km of the first category road with four lanes within several years.
Automagistral-Yug LLC was registered in 2006. According to the company’s website, it owns 10 factories producing asphalt mixes, eight own production bases of the construction divisions of the enterprise in six regions of Ukraine.