One more Ukrainian company came under the control of the Cyprus offshore

One more Ukrainian company came under the control of the Cyprus offshore

03.02.2017 News

Antimonopoly Committee of Ukraine has approved the deal Cyprus company Fundamentum KCG Limited with representative of national business OOO Development Foundation. The decision was published on the official website of the Ukrainian regulator on January, 27 of this year. According to publicly available information, the foreign conglomerate will carry out the acquisition of a controlling stake of domestic company: more than 50%. The transaction value do not advertise.

At the beginning of 2017 year, according to the information of the State register of legal entities of Ukraine, as the sole owner of Development Foundation performed another company of Cyprus origin, namely – Kisetorn Limited. In addition, it is necessary to point out that the aforementioned limited liability company is a part of the commercial group Fundament, acting on the Ukrainian construction market since 2012.

Home equity of Development Foundation is about 5.5 million hryvnia. From the point of view of analysts, such manipulation is carried out in order to “optimize” taxes, which is becoming increasingly popular solution among Ukrainian businessmen.

Also read: State Property Fund in the early spring will repeat the auction for the sale of shares of Kherson CHPP

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