United Media Holding changes ownership

Обзоры по компаниям и отраслям 21.06.2013 VETEK, a new Ukrainian business group controlled by Serhiy Kurchenko, is going to purchase a 98% stake in United Media Holding (A65 GR), the company reported on June 21. According to the company’s release, VETEK will buy all the UMH shares owned by ferroalloys magnate Gennadiy Bogolyubov, and it already bought stakes in UMH-related projects from Petro Poroshenko, a confectionary and automotive magnate. The deal is going to be finalized in 1Q14, according to the company’s press release. No value of the deal was disclosed, though Boris Lozhkin, one of the UMH shareholders, hinted in an interview published today on Forbes.ua that the price was close to his understanding of UMH’s value (which he earlier estimated at USD 450-500 mln). UMH is a holding company that is active in various media segments (internet, broadcasting, print) in Ukraine and Russia, including the Ukraine versions of Forbes and Vogue. Mr. Kurchenko, 27, is reported to have close business ties with top state officials.