Sale of ViOil’s shares to Renvior Trading Limited Suspended

On 8 February, the website of the Anti-Monopoly Committee of Ukraine stated that the authority had permitted Renvior Trading Limited registered in Cyprus and owned by People’s Deputy Oleksandr Hereha and his wife Halina to purchase 25 % of shares of ViOil Holdings Limited (registered in the Isle of Man). The same permission was granted to Ercos Global Ltd (British Virgin Islands).
ViOil Industrial Group did hold negotiations on selling a part of its shares to Renvior Trading Limited owned by Oleksandr Hereha. Though Viktor Ponomarchuk was still going to retain major shareholding in the company. Negotiations on the transaction were suspended at the end of December. ViOil entered into two credit facility agreements: the first one for $ 80 million from the syndicate of European banks, and the second one for $ 66 million from the Ukrainian bank. “We had been planning to engage an investor and hold negotiations on selling shares to Oleksandr Hereha’s Renvior Trading Limited, but we decided to suspend the transaction after receiving two loans for the total amount of $ 146 million,” said Viktor Ponomarchuk, the owner of ViOil Industrial Group.