Roshen's confectionary factory in Russia could be sold soon - ICU investment company

Roshen's confectionary factory in Russia could be sold soon - ICU investment companyLipetsk confectionary factory of Roshen Corporation could be sold in coming months, Makar Paseniuk, managing director of ICU investment company advising on the sale of Roshen, has said in comments for the Organized Crime and Corruption Reporting Project (OCCRP).

Paseniuk’s response on behalf of the president mentioned difficulties with the sale of Roshen corporation, citing investors’ caution amid "the volatile geopolitical and economic environment." Foreign capital inflow to Ukraine decreased from $10 billion in 2007 to $800 million in 2015.

Read also: Poroshenko's legal advisor: transfer of president's shares in Roshen to trust legal

Financial advisor offered various options to accelerate the sale of the company, including the sale of Russian and Ukrainian assets separately.

The client decided to transfer his stake in the corporation to a blind trust.

Read also: 'I haven’t been involved in Roshen asset management after becoming President' - Poroshenko

"This does not mean that the sale of Roshen has stopped… There is a progress in the talks on the sale of Roshen assets in Russia. The deal could be finalized in the coming months. Unfortunately, there are many unforeseen future events," Paseniuk said.

Poroshenko in January 2016 stated he signed a contract, according to which he transferred his stake in Roshen Corporation to an independent "blind" trust."

Roshen Corporation includes confectionery factories in Kyiv, Kremenchuk and Vinnytsia, and the dairy producer Bershadmoloko. It also runs confectionary facilities in Klaipeda (Lithuania), Lipetsk ( Russia), and Bonbonetti Choco (Hungary).
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