Politics

SBU investigating sale of controlling stake in Motor Sich, seizes 41 percent of shares via court

The Kyiv Shevchenkivsky District Court on the motion of the Security Service of Ukraine (SBU) on Sept. 7 passed a decision to arrest 41,00087 percent of shares in PJSC Motor-Sich (Zaporizhia) owned by five offshore companies that are on the accounts of Dragon Capital custodian (Kyiv) in connection with suspicions of an attempt to withdraw the assets of the enterprise from Ukraine, which will lead to its liquidation.

“The pre-trial investigation established that since 2016 until the present time unidentified persons from among the incumbent and former officials and ultimate beneficial owners of Motor Sich, acting on a preliminary conspiracy to weaken the state by destroying the said enterprise, have carried out a number of transactions to sell the controlling stake in the company to foreign companies that intend to move the company’s assets and production capacity outside Ukraine, which will lead to its liquidation and destruction,” the document reads.

According to the report, the Antimonopoly Committee of Ukraine in early June this year received a statement from the owner of the Chinese company Beijing Skyrizon Aviation Industry Investment Co., Ltd. and Motor Sich on granting a permit for concentration, according to which this Chinese citizen through the controlled structures already owns the said 41.00087 percent.

The post SBU investigating sale of controlling stake in Motor Sich, seizes 41 percent of shares via court appeared first on KyivPost.


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