Business news from Ukraine

AMCU ALLOWS VODAFONE TO BUY VEGA

The Antimonopoly Committee of Ukraine has allowed PrJSC Vodafone Ukraine to concentrate more than 50% of the telecom operator Vega (Farlep-Invest).
According to a statement released on the AMCU website, the committee made such a decision following the meeting on Thursday.
“The aggregate shares of concentration participants in the involved regional markets do not exceed 11%. In all commodity markets involved in the concentration, except for the voice traffic termination services market, there are a large number of business entities, they are competitors of the concentration participants and offer consumers similar services,” the AMCU said.
According to the AMCU, the seller within the planned concentration is SCM Group, which also includes PrJSC Ukrtelecom.
Both of these companies own a frequency resource in the 2.3 GHz range (15 MHz in six regions), as well as in the 2.5-2.7 GHz range.
Vodafone Ukraine is the second largest mobile operator in Ukraine.
The national telecom operator Vega is part of the telecommunications division of Rinat Akhmetov’s SCM group. The operator offers complex solutions in the field of fixed telephony, broadband Internet access and data transmission. The company is present in 22 regions of Ukraine.

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UKRAINIAN PROMETEY TO BUY GRAIN STORAGE IN KHARKIV REGION

Prometey Group has acquired an elevator (Zolochiv, Kharkiv region), designed for a one-time storage of 30,000 tonnes of grain, the asset will strengthen the position of the grain trader in Kharkiv region, which is profitable for agribusiness, the company’s website says. “Thanks to the Zolochiv elevator complex, we want to provide farmers with a new quality of services, including the services of Agromarket. Due to the new asset, Prometey Group plans to strengthen its position in Kharkiv region,” regional director of the elevator direction Dmytro Maksymenko said.
Prometey clarified that the Zolochiv elevator with a simultaneous storage capacity of 30,000 tonnes is certified for storage of grain and oilseeds. The complex has a grain-cleaning separator with a capacity of 100 tonnes/hour, and grain dryers with a capacity of 64 tonnes/hour.
The capacity of unloading grain by the elevator to railway transport is 400 tonnes/day, and the granary is also equipped with three truck unloaders. Weighing is carried out on scales with a carrying capacity of 60 tonnes and a platform length of 16 meters.
The company noted that the decision to expand the presence of Prometey at the expense of Kharkiv region is dictated by the high technical efficiency of agriculture in this region. The company referred to the studies of the Institute of Agricultural Development in Transition Economies (IAMO) and the Ukrainian Agribusiness Club association according to which Kharkiv region is one of the “references” for agricultural activities, and the stable growth of acreage and production of agricultural products favorably influences the development of the elevator industry.
Prometey recalled the Agromarket program, operating on the basis of each elevator in the chain, and allowing the company’s client farmers to purchase the necessary agricultural goods in one place, including on the security of the future harvest.

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UKRAINE ALLOWS BUSINESS TO BUY FOREIGN CURRENCY FOR EUR 100,000 PER DAY WITHOUT OBLIGATIONS

The National Bank of Ukraine (NBU) plans to gradually abolish the requirement for legal entities and individuals-entrepreneurs to purchase foreign currency only against obligations, in particular, from July 20, it will allow businesses to buy foreign currency within EUR 100,000 (in equivalent) per day without the presence of grounds and obligations and the submission of supporting documents to the bank.
According to the NBU press service on Thursday, the relevant changes were approved by regulator’s board decision No. 80 dated July 13.
“We have decided to cancel this requirement gradually. This will allow us to assess the impact of each such step on liberalization on the state of the market,” the NBU press service said, citing Deputy Governor of the NBU Yuriy Heletiy said.
According to the National Bank, the current easing will not have a significant impact on the functioning of the Ukrainian foreign exchange market, but it will expand the business opportunities for risk and liquidity management.
It is indicated that the next steps towards the complete removal of the requirement for the purchase of foreign exchange against obligations will be carried out after analyzing the situation in the domestic and foreign markets, the state of financial stability, and also subject to a favorable situation in the foreign exchange market.

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METINVEST REFUSES TO BUY DONETSKSTAL WITH MULTIMILLION DEBTS

MetinvestB.V. (the Netherlands), the parent company of a vertically integrated group of steel and mining companies, has established control over the largest Ukrainian producer of coking coal, PrJSC Pokrovske Mine Management (Donetsk region), of which the group became a minority shareholder in 2018.
According to the company’s statement in the information disclosure system of the National Securities and Stock Market Commission with reference to the information received on March 5 from Metinvest B.V., on March 4, 2021, the company received the ownership of a controlling stake in PrJSC Pokrovske Mine Management.
“On March 4, 2021, Metinvest B.V., as a result of the acquisition of shares in the charter capital of Industrial Coal Holding (ICH), became indirectly the owner of 486148489 common registered shares of PrJSC Pokrovske Mine Management, became (directly and indirectly) the owner of 67.28% of the charter capital of PrJSC Pokrovske Mine Management,” according to the information of the enterprise in the commission.
At the same time, it is noted that, taking into account the above, the company Metinvest B.V. on March 4, 2021, it acquired the ownership of a controlling stake in PrJSC Pokrovske Mine Management. The highest price at which Metinvest B.V. and its affiliates acquired shares in PrJSC Pokrovske Mine Management is UAH 12.80 over the last 12 months.

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SOUTH KOREAN CARIS PLANS TO BUY OUT SHARES OF MINOR SHAREHOLDERS OF CRANE BUILDING COMPANY

Caris Ukraine LLC (Kyiv), controlled by South Korean Caris, intends to buy out the shares of minority shareholders of Strila crane building company (Brovary, Kyiv region), in which it owns 89.837% of shares.
According to the public irrevocable demand published in the information disclosure system of the National Securities and Stock Market Commission of Ukraine, the shares from the minority shareholders will be redeemed at UAH 129.4 per share (with a par value of UAH 110).
The charter capital of JSC Strila is UAH 6.21 million.
At present, Strila plant, which employed ten people by the beginning of this year, does not carry out production activities (since 2015), and receives main income from the sale of materials and partial lease of premises.
Caris, according to its information, has enterprises in many countries of the world, construction, logistics companies, companies for the production of innovative materials and components for road construction and traffic safety, and also has an R&D center that owns patented innovative technologies for the production of polymer and superhard materials used in heat power engineering, industrial electronics and mechanical engineering.

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UKRAINIANS SELL $151 MLN MORE CURRENCY THAN BUY IN AUGUST

The volume of cash sales by the population in August 2020 exceeded the purchase volume by $151.2 million, according to the website of the National Bank of Ukraine (NBU).
According to the regulator, in August compared to July of this year, Ukrainians reduced the sale of foreign exchange by 6.2%, to $1.4 billion in equivalent, and also reduced the purchase by 1.8%, to $1.3 billion in equivalent.
In general, over the eight months of 2020, the volume of sales ($10.2 billion) of cash currency prevailed over the volume of purchases ($9 billion), the difference between which was $1.1 billion, according to the NBU data.

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