The National Bank of Ukraine (NBU) has declared VTB Bank (Kyiv) insolvent, according to the website of the central bank. The corresponding decision was approved by NBU Board resolution No. 796-rsh/BT dated November 27, 2018. “Due to the decrease in liquidity of JSC VTB Bank and the subsequent deterioration of its financial state during the … Read more
The British purchasing agency Crown Agents will continue to work in Ukraine, will assist in the implementation of procurement, conduct training, head of the agency’s representative office Tetiana Korotchenko has said in an interview with Interfax-Ukraine. “We take Ukraine very seriously: we have been working here for more than 20 years, we will continue to … Read more
Unibep S.A., one of the largest construction companies in the Polish market, has signed a conditional agreement on completing the construction of a shopping and entertainment complex in Kyiv with the Ukrainian company Martin LLC (Kyiv), part of the Lithuanian investment group BT Invest. According to a report by Unibep S.A. on the stock exchange, … Read more
Myronivsky Hliboproduct (MHP), a large agricultural holding in Ukraine, with the purpose of boosting labor effectiveness introduced monitoring of employee’s emotions, MHP Board Chairman Yuriy Kosiuk said at the fifth Conductors of Changes forum held in Kyiv on November 13. “We monitor emotions. Everyone is under cameras… We calibrate emotions by 70 points. We look … Read more
The Serbian Commission for Protection of Competition has allowed Myronivsky Hliboproduct (MHP) to acquire 90.69% of Perutnina Ptuj (Slovenia), a vertically integrated company in Southeastern Europe. “The planned concentration will be carried out on the basis of a stock purchase agreement … After the transaction MHP SE will own 90.69% of the total number of … Read more
Fitch Ratings has assigned Kondor Finance plc’s proposed loan participation notes (LPNs) an expected senior unsecured ‘B-(EXP)’ rating and Recovery Rating (RR) of ‘RR4.’ According to a press release of Fitch published on November 2, the LPNs will be issued by Kondor Finance (the U.K.) on a limited recourse basis for the sole purpose of … Read more
The fund managed by Horizon Capital has completed a deal to acquire a minor stake in Yarych Confectionary Factory LLC (Stary Yarychiv, Lviv region), the press service of Yarych has reported. “As we plan to increase production to extend our presence in Ukraine and abroad, partnership with Horizon Capital is the basis of our expansion … Read more
Ukrainian President Petro Poroshenko has signed the so-called “stop masks-show-2” law at a meeting with business representative in Kyiv. “The law, with its conditional name ‘stop masks-show-2,’ simplifies bringing to account the investigator, the prosecutor, the law enforcement officer who made illegal decisions to open criminal proceedings and which were later canceled by the court. … Read more
Fitch Ratings has affirmed Ukraine’s PJSC CB PrivatBank’s (PB) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B-‘. The Outlooks are Stable. According to a press release of Fitch, simultaneously, Fitch has affirmed the bank’s ‘b-‘ Viability Rating (VR) and upgraded the National Long-Term Rating to ‘AA(ukr)’ from ‘AA-(ukr)’. “PB’s Long-Term IDRs are aligned … Read more
Ovostar Union, one of the leading producers of eggs and egg goods in Ukraine, in January-September 2018 increased sales of eggs by 27% compared to the same period in 2017, to 1.056 billion pieces. According to a group report on the Warsaw Stock Exchange, egg production during this period decreased by 3.5%, to 1.202 billion … Read more