The ABH Ukraine, Cyprus company said it would buy a 50% stake in the “Alfa Insurance” insurance company.
Recently, the Antimonopoly Committee has permitted ABH Ukraine (Cyprus) to buy a 50% stake in the “Alfa Insurance” insurance company, according to the Antimonopoly Committee report.
“It was given a resolution to the ABH Ukraine Limited company (Nicosia, Cyprus) to acquire shares of the “Alfa Insurance” CJSC (Kiev), which provides the excess of 50% of the votes in the supreme governing body”, – the report says.
In December 2015 the National Commission for Regulation of Financial Services has allowed ABH Ukraine to buy a 94.92% stake of the “Alfa Insurance”.
Currently, 99.99% of the shares of the company belongs to the Cypriot company Innocast Holdings.
ABH Ukraine owns 100% of shares of the Alfa-Bank Ukraine, which, together with the “Alfa Insurance” is the part of the “Alpha-Group” consortium.
“Alfa Insurance” is a private joint stock company established in 2000 and specializes in risk insurance. An innovative insurance company in Ukraine with a universal portfolio of services that includes comprehensive business interests and a wide range of insurance products for individuals is represented in all regions of Ukraine. The authorized capital of the Company amounts to 94,480,000 UAH.
“Alfa Insurance” and Alfa Bank are the members of a large industrial consortium “Alfa Group”. The parent structure of the consortium is Gibraltar CTF Holdings Ltd., which through a chain of offshore companies controls the assets of the “Alfa Group”.
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