AMCU allowed Vodafone Ukraine owner to privatize United Mining and Chemical Company

The Antimonopoly Committee has allowed an Azerbaijani investor to privatize JSC United Mining and Chemical Company.

The company “Tsemin Ukraine”, owned by Azerbaijani businessman Nasib Hasanov, was allowed to privatize United Mining and Chemical Company, the Antimonopoly Committee reported.

“Permission has been granted to LLC “Tsemin Ukraine” to acquire control over JSC “United Mining and Chemical Company” by directly purchasing shares of JSC “United Mining and Chemical Company”, which ensures an excess of 50 percent of votes in the highest management body of the company,” the report says.

“Tsemin Ukraine” is part of the international group of companies Neqsol Holding.

We remind you that at the auction for the privatization of the state-owned block of shares amounting to 100% of the authorized capital of United Mining and Chemical Company, one participant submitted an application — LLC “Tsemin Ukraine”. The bid he proposed is almost UAH 3.4 billion, with the starting price of Company being UAH 3.9 billion.

JSC ” United Mining and Chemical Company ” is the largest producer of titanium raw materials in the country. The company includes two plants: Vilnohirsk Mining and Metallurgical Plant in Dnipropetrovsk Region and Irshansk Mining and Processing Plant in Zhytomyr Region.