The investment company UMG Investments from SCM Group of Rinat Akhmetov has received a mandate to carry out two or three investments annually of up to $10 million each as a minority partner, SCM Head Oleh Popov has said.
“UMG Investments is ready for any partnerships – they have a mandate to enter projects as minority shareholders, and make investments up to $10 million … per transaction. They should bring 2-3 such transactions per year,” he said in an interview with Ekonomichna Pravda.
According to Popov, the main criteria are potential and innovativeness, but SCM has expectations for the return of these investments, but he did not specify the minimum profitability.
The head of the group recalled that in addition to new third-party projects, UMG Investments, headed by Andriy Gorokhov and Nadiya Kaznacheyeva, is also looking for additional projects with high profitability at all SCM industrial assets, including waste treatment.
As an example of implemented investments, Popov named the production of protein feed additives for animals Feednova with partners from the Effective Investments group of companies and Dutch-based Mada Participations B.V., the Ukrainian Mineral Fertilizers enterprise for the production of ammonium sulfate, projects for the coherent utilization of coal mine methane and the construction of a grain terminal.
As reported, at the end of March this year, Gorokhov confirmed the strategic plans for further investment in Ukraine, estimating the volume of UMG Investments’ investments at over $40 million annually.
SCM Group owner Rinat Akhmetov remains the richest Ukrainian in 2019 according to the Focus magazine, with fortune of $7.2 billion.
According to the list, owner of Interpipe Victor Pinchuk with $2.4 billion and owner of Group DF Dmytro Firtash with $1.7 billion are second and third on the list.
Ex-owners of the Privat Bank Ihor Kolomoisky with $1.1 billion and Hennadiy Boholiubov with $0.9 billion, who were second and third in recent years, fell to the eighth and ninth places respectively.
Owner of Smart-Holding Vadim Novinsky with $1.5 billion climbed from the fifth to fourth position. A shareholder in Ferrexpo Kostiantyn Zhevaho with $0.5 billion fell from the fourth position to the 20th.
Ex-President of Ukraine Petro Poroshenko, the owner of Roshen, climbed from 12th to the fifth position with $1.3 billion. Owners of Epicenter K Group, Hereha couple with $1.2 billion, climbed from the 10th position to the sixth.
The seventh place on the list is occupied by the owner of Dniprospetsstal, the head of the political council of the Opposition Platform – For Life party Viktor Medvedchuk with a fortune of $1.1 billion, who entered the rating for the first time.
In addition, the owner of Fozzy Group, Volodymyr Kostelman ($0.85 billion), moved up to the 10th place from 13th.