Business news from Ukraine

HORIZON CAPITAL INTENDS TO GAIN CONTROL OVER CYPRIOT COMPANY OWNER OF AVRORA SOCIAL STORE NETWORK

Cypriot Dealbeta Investments Limited, created by Emerging Europe Growth Fund III (EEGF III) private equity fund managed by Horizon Capital, intends to gain control over the Cypriot company Avroretail Investments Limited, the owner of the Avrora social store network.
According to the website of the Antimonopoly Committee of Ukraine (AMCU), the relevant issue was included in the agenda of the commission’s meeting on June 24.
According to the report, Dealbeta Investments has already entered into a shareholder agreement with the citizens of Ukraine and Avroretail Investments, which contains provisions on concerted actions and restrictive obligations for a period of five years.
According to the state register, Avroretail Investments, registered in March of this year, in April became the owner of Prior Investments LLC (Scherbany village, Poltava region) with Seven A LLC (Poltava) instead of the co-owner of the Avrora chain, Poltava businessman Lev Zhidenko, and Vyhidna Pokupka LLC (Poltava) instead of Zhidenko (who owned 33.74%), Taras Panasenko (56.75%) and Lesia Klymenko (9.49%). Promyslova 9 LLC (Vinnytsia), which belonged to Zhidenko and Panasenko on a parity basis, was also registered for Avroretail.
Vyhidna Pokupka LLC (until May of this year – Lafesta) last year increased its revenue 2.4 times, to UAH 1.011 billion, and net profit – 2.2 times, to UAH 55.9 million.
According to the information on the website of the Avrora chain, its stores operate in almost all regions of Ukraine in the One Dollar Store format.

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