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M&A in Ukraine Catching the Rebound
M&A IN UKRAINE CATCHING THE REBOUND CONTENTS 03 Foreword 04 Key findings 05 M&A overview 09 Sector watch 17 An eye on private equity 18 The tech sector in Ukraine 20 Spotlight interviews 23 The long-term outlook 25 Conclusion DEAL METHODOLOGY Deals within regular Mergermarket criteria have a transaction value greater than or equal to US$5 million, except for some minority stake acquisitions where a higher threshold applies. If the consideration is undisclosed, deals are included on the basis of a reported or estimated deal value greater than or equal to US$5 million. If the deal value is not disclosed and cannot be confirmed to be greater than or equal to US$5 million, the deal is included if the target’s turnover/revenue is greater than or equal to US$10 million. If neither the deal value nor the target revenue is disclosed, Mergermarket will use other indicators to determine inclusion, including but not limited to number of employees of the target company, assets under management exceeding US$200 million for the asset management firms, and value of assets/deposits exceeding US$50 million for banks. To capture a wider scope of the Ukrainian M&A market, for this report, some deals outside of the regular deal criteria have been included. CATCHING THE REBOUND 2 FOREWORD The coronavirus crisis brought mass disruption to global M&A, including the Ukrainian market. Having navigated significant headwinds, signs point to an economic and dealmaking recovery for the country in 2021 Like virtually all other economies, Ukraine’s gross domestic product (GDP) fell in 2020 – an inevitable consequence of the Covid-19 pandemic. -
Eu4digital Market Assessment for Digital Innovation and Scale Up
EU4Digital: supporting digital economy and society in the Eastern Partnership Market assessment for Digital Innovation and Scale-up Initiative in Eastern partner countries Final report June 2020 1 About this study In early 2020, EU4Digital Facility launched activity ‘Market Assessment for Digital Innovation and Scale-up Initiative (DISC) in Eastern Partner Countries’ (hereinafter – study / research) The goal is to analyse the investment landscape for digital high tech companies in these countries: Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova and Ukraine. The activity was inspired by Digital Innovation and Scale-up initiative (DISC) in Central, Eastern and South Eastern Europe region (European Commission Factsheet). Based on the findings of this study, the European Commission will be able to adjust its plans to better serve the needs of the local markets, developing adapted financial support instruments. Based on the Terms of Reference (TOR) (see Appendix I), this research aims to: 1. Understand digital innovation and high-tech start-ups investment landscape and identify existing gaps on investment in Eastern partner countries. 2. Map the main private & corporate equity investors that provide financing to digital start-ups and fast growth companies in Eastern partner countries. 3. Map the main public sector investment programs in start-up / tech-oriented companies at the country-level. 4. Analyse micro-level data on private investments in start-up / tech-oriented companies in the region. 5. Provide recommendations to develop and use financial instruments for digital innovation and the scale-up of high-tech start-ups. The research focuses on start-ups at the creation and scale-up phases, rather than traditional SMEs on their path to digitalisation. -
Innovative Ukraine
INNOVATIVE UKRAINE 2019 INNOVATIVE UKRAINE 4 INTRODUCTION 5 EXECUTIVE SUMMARY 6 IT INDUSTRY OF UKRAINE 10 UKRAINIAN HIGH-TECH INDUSTRY HIGHLIGHTS 12 INTERNATIONAL RANKINGS 14 TRENDS 16 INVESTMENTS 19 COMPANIES 22 R&D 24 GOVERNMENT 25 ECOSYSTEM INITIATIVES 29 TALENT POOL AND EDUCATION 32 DESTINATIONS IN UKRAINE 35 OTHER INDUSTRIES 48 MEASURES ON IT DEVELOPMENT IN UKRAINE 51 ESTIMATED EFFECTS OF THE ABOVE MEASURES 52 RECOMMENDATIONS TO THE WESTERN POLICYMAKERS 53 NOTES 54 LIST OF SOURCES 3 EXECUTIVE SUMMARY • Ukraine’s IT industry has become one of the proving the process of destructing counterfeit factors driving the country’s economic growth: goods, adopting a law establishing the Nation- the industry’s exports totaled $4 billion USD, al Authority on Intellectual Property of Ukraine, or 9% of the country’s total exports. In 2018, and intensifying international cooperation at investments into the IT industry reached $337 the highest level through the facilitation of a million USD, which amounted to 14% of the consistent dialogue between the Presidential total foreign investments. These results were Offices of Ukraine and the USA. Dmytro Yeromin achieved with the efforts of 184,000 persons UNIT.City, Managing Partner • Among other measures the government must employed in the IT industry (1.2% of the na- implement to create the conditions for accel- tion’s total workforce). erated growth of the IT industry are: establish- • Ukraine’s IT industry continues to exhibit rapid ing the legislative framework for software de- growth: in the last five years, its export volume velopment on a “customer-owned” basis (i.e. has doubled, total investments quadrupled, when software is developed in Ukraine but is and every year Ukrainian universities turn out the property of a nonresident customer), in- 23,000 new IT specialists. -
THE COUNTRY THAT CODES IT Industry in Ukraine
UKRAINE THE COUNTRY THAT CODES IT Industry in Ukraine. 2019 Market Report UKRAINE — THE COUNTRY THAT CODES 3 CONTENTS UKRAINE: THE COUNTRY PART 2. UKRAINIAN Universities ........................................................35 THAT CODES ................................................4 IT INDUSTRY OVERVIEW ...................... 17 Innovative educational programs ............36 About this report .............................................. 5 IT Market Dynamics ................................ 17 School programs promoting IT ..................37 PART 1. UKRAINE: The role of Ukraine’s ICT industry COUNTRY OVERVIEW ..............................7 in the country’s economy ....................... 18 Beyond state establishments — extracurricular education ...........................37 Literacy and education ..............................8 Ukrainian IT service market. IT outsourcing ........................................... 18 IT Cities ....................................................... 38 Innovations ...................................................8 IT Infrastructure ....................................... 21 Kyiv .......................................................................39 Long-standing engineering tradition .........................................................9 Ukraine vs other IT outsourcing Lviv ....................................................................... 40 destinations of the CEE region ............. 24 Business Climate in Ukraine ....................9 Kharkiv ................................................................41 -
Creating Markets in Ukraine
COUNTRY PRIVATE SECTOR DIAGNOSTIC CREATING MARKETS IN UKRAINE Doubling Down on Reform: Building Ukraine’s New Economy January 2021 About IFC IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities where they are needed most. In fiscal year 2019, we delivered more than $19 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org © International Finance Corporation 2020. All rights reserved. 2121 Pennsylvania Avenue, N.W. Washington, D.C. 20433 www.ifc.org The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon. The findings, interpretations, views, and conclusions expressed herein are those of the authors and do not necessarily reflect the views of the Executive Directors of the International Finance Corporation or of the International Bank for Reconstruction and Development (the World Bank) or the governments they represent. Cover Photos: IVAN KUZKIN/shutterstock.com CONTENTS ACKNOWLEDGMENTS 3 ABBREVIATIONS AND ACRONYMS 4 EXECUTIVE SUMMARY 6 Country Context 7 Key Cross-Cutting Constraints for Private Sector Development 10 Sector Assessments and Recommendations 14 Priority Recommendations and Key Policy Actions 22 1. -
Euromaidan Newsletter # 340 CIVIC SECTOR of EUROMAIDAN
CIVIC SECTOR OF EUROMAIDAN 20 GRASSROOTS MOVEMENT 20 , 7 EuroMaidan Newsletter # 340 2 - 21 Report details Russia’s economic meddling in Europe July Black boxes confirm illegal interference in downed UIA flight . Headquarters in Vitebsk, Belarus. Gas, money laundering, and pizza: report details 40 Russia’s economic meddling in Europe. “Black is the new orange”: Pro-Kremlin 3 conspiracies on color revolutions. # Reuters: Germany rejects Trump's proposal to let Russia back into G7. Telegram: the Russian messaging app at the heart of a major influence operation in Ukraine. The transcript from the black boxes from downed Ukraine International Airlines Flight 752 confirms Journalist threatened after uncovering pro-Russian that there was illegal interference with the plane. Telegram channels and their influence on president’s party MPs. Trump campaign ad uses Ukraine photo in depicting U.S. street 'chaos'. Fake: Americans testing Coronavirus vaccine on Ukraine’s military. Elections in Belarus: Lukashenka’s rival and his NEWSLETTER son detained on secretive charges. Thousands attend rally organized by United Left: Why Ukraine should support Yuri Dmitriev, Russian historian unearthing Stalin’s repressions Right: Next Targets of Russia after Ukraine: Belarus and Kazakhstan. Russia has no intention of adhering to upcoming ceasefire agreement As long as Russia remains an empire, Moscow will be repressive at home, aggressive abroad OSCE region since 1990s. As long as Russia remains an empire, Moscow will be repressive at home and aggressive abroad, Russia intentionally ignores the fact that Eidman says. Ukrainians, Belarusians, Balts populated the Russian Far East, not Russians. Vitaly Portnikov: Russia has no intention of adhering to the upcoming ceasefire agreement. -
A Kyiv Post Special 24-Page Edition Celebrating the 25Th Anniversary of Ukraine's Independence Starts Inside. Another Special
A Kyiv Post special 24-page edition celebrating the 25th anniversary of Ukraine’s independence starts inside. in partnership with Another special edition will be published on Aug. 26. To advertise, contact [email protected] or call 38-044-591-7788. st 21 Subscribe Year to Kyiv Post online. :::.<,93267&20 vol. 21, issue 34 www.kyivpost.com August 19, 2016 Manifestly Sleazy What does U.S. presidential candidate Donald Trump have in common with overthrown Ukrainian President Viktor Yanukovych, now in exile under the protection of Russian President vladimir Putin? For one, both hired U.S. political consultant Paul Manafort (C), who is Trump’s campaign chairman. These ties, along with Trump’s pro-Kremlin stances and refusal to release his tax returns, have fueled speculation that the Republican candidate is hiding financial deals with Russia. In the background are handwritten ledgers seized from Yanukovych’s Party of Regions during the EuroMaidan Revolution that drove him from power. Records show $12.7 million in cash payments to Manafort from 2007-2012, allegations he denies. (AFP) BY OLEG SUKHOV hailed as a great asset when he serious liability. The revelations are seen as further money laundering and failure to dis- AND ISOBEL KOSHIW was taken on a few months ago as According to various news damaging Trump’s now long-shot close lobbying on behalf of a foreign [email protected] Republican presidential candidate reports, Manafort allegedly received prospects to win the Nov. 8 U.S. pres- government. AND [email protected] Donald Trump’s campaign chairman. an undeclared $12.7 million from idential election against Democrat Manafort, who was a political But with the latest revelations Yanukovych’s Party of Regions Hillary Clinton. -
Unity Labor Market Assessment
Ukraine National Identity through Youth (UNITY) Labor-Market Assessment Final Report June 2021 Authors: Oksana Kozak, Consultant, Making Cents International Bojan Boskovic, Consultant, Making Cents International Christy Olenik, Making Cents International This research is made possible by the generous support of the American Table of Contents people through the United States Agency for International Development (USAID). The contents are the responsibility of Making Cents International Table of Contents ................................................................................................and do not necessarily................................ reflect the views of............................ IREX, USAID or the United i States Government. Acronyms and Abbreviations .........................................................................................................................................iii Introduction ................................................................................................................................................................... 1 Research Questions ................................................................................................................................................... 1 Methodology ............................................................................................................................................................. 1 Assessment Limitations ........................................................................................................................................ -
The UKRAINE Network Newsletter 27 (No. 1, 2021) January – March 2021
The UKRAINE Network Newsletter ◊27◊ (No. 1, 2021) January – March 2021 Dear colleagues, Шановні колеги, Sehr geehrte Kolleginnen und Kollegen, With this 27th issue of our У цьому 27-му числі нашого Mit dieser 27. Ausgabe kündigen Newsletter we open the call інформаційного Вісника ми wir den Doktoranden- for applications to our PhD анонсуємо конкурс доповідей Vortragswettbewerb an, Thesis Presentation Contest, аспірантів, знайомимо Вас з informieren Sie über einige celebrate some remarkable новими цікавими спільними interessante EU-geförderte 1 collaborative grants awarded проєктами, що фінансуються Projekte und, wie immer, geben by the EU and, as always, Європейською Комісією, та, як Ihnen einen Überblick über die provide you with a digest of завжди, хочемо привернути Вашу neuesten Nachrichten, aktuelle the latest news, selected увагу до деяких цікавих новин та Fördermöglichkeiten und funding opportunities and актуальних грантових пропозицій, Veranstaltungen, die sich auf die events related to academic конференцій та інших заходів, akademische Zusammenarbeit cooperation with Ukraine. пов'язаних з науковою mit der Ukraine beziehen. співпрацею з Україною. Stay healthy in these testing Залишайтеся здоровими! Bleiben Sie gesund! times! З найкращими побажаннями, Mit freundlichen Grüßen, With kind regards, Dr. Oksana Seumenicht, Managing Director, the German-Ukrainian Academic Society/ Research Development Manager, MDC, Berlin Professor Olga Garaschuk, President, the German-Ukrainian Academic Society/ Chair of the Department of Neurophysiology, -
USAID UKRAINE COMPETITIVE ECONOMY PROGRAM Sector Selection Assessment Report
PHOTO BY SOFTSERVE FOR USAID USAID UKRAINE COMPETITIVE ECONOMY PROGRAM Sector Selection Assessment Report February 15, 2019 This publication was produced at the request of the United States Agency for International Development. It was prepared by J.E. Austin Associates, Inc. for Chemonics International. DISCLAIMER: The authors’ views expressed in this publication do not necessarily reflect the views of the United States Agency for International Development or the United States Government. Contacts: William (Bill) Seas III Chief of Party [email protected] Evgenia Malikova Contracting Officer’s Representative USAID/Ukraine [email protected] TABLES OF CONTENTS EXECUTIVE SUMMARY 11 BACKGROUND 11 METHODOLOGY 11 CONCLUSIONS 12 RECOMMENDATIONS 14 1. OVERVIEW 18 1.1 PROGRAM DESCRIPTION 18 1.2 ASSESSMENT PURPOSE AND CRITERIA 18 2. METHODOLOGY 20 2.1 ASSESSMENT PHASES 20 2.2 DATA COLLECTION 21 2.3 DATA ANALYSIS 23 3. SECTOR SHORTLISTING 25 3.1 GENERAL OVERVIEW AND TRENDS 25 3.2 SHORTLIST SUMMARY 32 4. SECTOR ASSESSMENTS - APPAREL AND FOOTWEAR 37 4.1 SECTOR OVERVIEW 37 4.2 SECTOR GROWTH POTENTIAL 50 4.3 SECTOR POTENTIAL FOR EXPORT MARKET PENETRATION 54 4.4 SECTOR JOB CREATION POTENTIAL 58 4.5 SECTOR POTENTIAL FOR ENTREPRENEURSHIP AND INNOVATION 59 4.6 BUSINESS ENABLING ENVIRONMENT AND REGULATORY FRAMEWORK 59 4.7 OTHER FACTORS 61 4.8 SWOT AND DIAMOND ANALYSES 61 5. SECTOR ASSESSMENTS – DAIRY PROCESSING 70 5.1 SECTOR OVERVIEW 70 5.2 SECTOR GROWTH POTENTIAL 83 5.3 SECTOR POTENTIAL FOR EXPORT MARKET PENETRATION 90 5.4 SECTOR JOB CREATION POTENTIAL 94 5.5 SECTOR POTENTIAL FOR ENTREPRENEURSHIP AND INNOVATION 94 5.6 BUSINESS ENABLING ENVIRONMENT AND REGULATORY FRAMEWORK 96 5.7 OTHER FACTORS 100 5.8 SWOT AND DIAMOND ANALYSES 102 6.