COMPETITION AGENCY PERMITS CYPRIOT ABH UKRAINE LIMITED TO ACQUIRE OVER 50% OF ALFA INSURANCE
Date: 10.03.2016. Section: Press Review, Trends in Insurance, Top
The Antimonopoly Committee of Ukraine has permitted ABH Ukraine Limited (Cyprus) to acquire shares in private joint-stock company Alfa Insurance (Kyiv), which would allow having over 50% of the votes in the management body of the company, the committee said in a press release.
The National Commission for Securities and the Stock Market on December 3, 2015 agreed the acquisition of 94.9246% shares of the share capital of Alfa Insurance for ABH Ukraine Limited.
According to the public register of companies and individual businessmen, the ultimate beneficiary of the insurer is Innocast Holdings Limited (Cyprus).
Alfa Insurance Group (Russia) in 2014 sold stakes in Ukrainian insurances companies to Alfa-Bank (Kyiv) as part of business restructuring.
ABH Ukraine Limited is the holding company and its only participant is ABH Holdings SA (ABHH) headquartered in Luxembourg. As of October 1, 2015, ABH Ukraine Limited was the only shareholder in Alfa-Bank.
ABHH’s current owners are Mikhail Fridman (36.47%), German Khan (23.27%, both citizens of Israel, live in London), Alexei Kuzmichev (18.12%), Pyotr Aven (13.76%), Andrei Kosogov (4.08%, all three are Russian citizens and live in Moscow) and The Mark Foundation for Cancer Research (4.3%, previously held by Alexander Knaster).
Alfa Insurance was registered in 2000. Its core business is risk insurance.