DOCSLIB.ORG

Businessneweurope.Eu May 26, 2008

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Businessneweurope.Eu May 26, 2008 May 26, 2008 This is bne's Eastern Europe M&A weekly newsletter, a list of the top M&A stories in the region last week. You can receive the list as a plain text or html email or as a pdf file. To manage your delivery options:http://businessneweurope.eu/users/subs.php TOP STORY 1. Severstal goes on shopping spree 2. CEDC and Lion Capital to acquire control of Russia's largest vodka company 3. Polymetal confirms Kerimov in talks to sell majority stake NEWS 4. RZD mulls cross-ownership with Deutsche Bahn 5. Abramovich wins first round against Berezovky 6. Bashkortostan could sell shares in energy companies 7. BP might have to repay TNK-BP over $400m 8. Gasunie to take a 9% stake in Nord Stream 9. INTERVIEW: Troika Dialog - the chosen one 10. Koks FY07 IFRS results - Strong performance on recent M&A JOINT VENTURES 11. Bombardier, Transmashholding to jointly manufacture locomotives in Russia RUSSIAN - RUSSIAN 12. Alisher Usmanov ups take in 7TV to 83% 13. AFI Development -To sell 50% of Aquamarin-2 for $200 mn 14. AFK Sistema emerges as 2nd suitor for Central Telegraph 15. Comstar could gain control over Central Telegraph 16. Kazimir Partners offers $350 mln for 2.5% of Polyus Gold 17. Pervouralsk Pipe ChelPipe increases control; buyout offer imminent 18. Russian Railways to head Udokan bid with an eye to BAM 19. Synterra closes acquisition of 51% in Teleport FOREIGN - RUSSIAN 20. Poland booze distributor CEDC deal could make it #1 in Russia 21. FAS rejects Flexitronics International's bid for Elcoteq 22. Lukoil-Poland reportedly to sell gas filling stations to Barter 23. Renault-Nissan to acquire IzhAvto RUSSIAN - FOREIGN 24. East One sells 60% of Dniprospetsstal 25. Lukashenko welcomes Russian Machines collaboration 26. Novatek could develop projects in Egypt 27. Russia's Ural Mining buys 51% of Czech firm Aircraft Industries 28. Sistema: Potential conflict between Shyam Telelink minorities 29. TMK's acquisition of IPSCO US pipe assets not yet closed 30. Uralkali may acquire Canadian competitors 31. VimpelCom will not buy MTN 32. VTB sells its stake in Finnish timber company Ruukki PRIVATISATIONS, AUCTIONS 33. FAS approves Onexim's bid to acquire 100% of TGK-4 34. Federal Property Fund to auction off Termoexport 35. Gazprom is not interested in Moscow Supply Company? businessneweurope.eu 36. Management of high- and medium/voltage-transmission will be separated after UES break-up? 37. Official consolidation deadline set for regional gas distributors 38. Clarity on the sale of OGL-1 to come this week? 39. TGK-2 Sale of government's stake may be cancelled 40. UES -Sells 25% of Russian Utilities Systems to IES at $130 mn 41. UES board allows strategic buyers to defer payments 42. UES holds Board meeting 43. UES sells Penza Supply Company at auction 44. UES sells six research, engineering companies 45. UES sells Volgograd Supply, state Rostov Supply starting price 46. Uncertainty over Lenfilm, Gorky Film Studio privatization STATE OWNED COMPANIES 47. Novoship -Sovcomflot makes an obligatory offer 48. Russian Technology to receive stake in pipe producer KAZAKH DEALS 49. Kazakhstan plans to invest in Ukrainian grain terminal 50. Medvedev strikes Kazakh deals, plans stronger ties with former Soviet republics UKRAINE DEALS 51. Alliance sells Kherson refinery to WOG 52. Cabinet to revoke PSA with Vanco 53. Cyprus-based Interpipe Ltd acquires 31.9% of NITR 54. Dniprospetsstal: two more proxy owner changes 55. Minus one bidder for oblenergos? 56. Privatization of Odesa Portside Plant postponed again 57. Tatneft files a law suit over Kremenchug 58. Ukrainian prosecutors investigating prime minister's nominee for SPF head 59. UkrRos merges with UkrRos Grain company 60. Ukrtelecom: Government moves to wrestle UTEL from SPF OTHER DEALS 61. Probably the best lager in Turkey set to quit 62. Latvia govt to meet with TeliaSonera today over Lattelecom deal 63. Belarus aims to get $500m for BeST mobile operator 64. Azeri, South Korean companies sign joint projects 65. Completion of Roche deal major risk for Turkey's Eastpharma 66. Czech govt to sell Technoexport, Strojimport later this year 67. EU sets June 25 deadline for probe into Spar buy of Tengelmann Hungarian plus 68. Georgia launches power privatisation 69. Grontmij buys 75% stake in Hungarian engineering office Canor 70. Hungary M&A activity doubles to $10bn in 2007 71. Investment fund RC2 Cyprus increases stake in Romania's Albalact to 17% 72. Lotos buys 10% stake in North Sea exploration field 73. Magyar Telekom still looking at Slovene incumbent 74. OMV to take legal action in Mol bid 75. Polish developers Polnord and Pol-Aqua cancel merger deal 76. Polish steelmaker Konsorcjum Stali mulls share offering for acquisition 77. Polish Treasury gives green light to WSE privatisation 78. Polish treasury minister says privatisation of small firms can't wait 79. Polish tycoon Solorz-Zak's Polaris takes stake in insulin-maker Bioton 80. Prague airport, CSA to be sold in second half of 2009 81. Turkmenistan and South Korea sign bilateral agreements 82. Turkmenistan invites South Korea to invest in Caspian oil projects 83. TVN's acquisition of 'n' is a good example of bad corporate governance businessneweurope.eu TOP STORY 1. Severstal goes on shopping spree bne May 26, 2008 Russian steel major Severstal last week went on a shopping spree. The company offered some $1.24bn in cash for US steelmaker and distributor Esmark, announced a binding agreement to acquire US high-quality automotive steel producer WCI for a total cash consideration of $140m, and announced plans to buy iron ore assets in Liberia. Severstal offered $17 per share for all outstanding stock of the loss-making Esmark, matching Indian Essar Steel's bid made April 30. The Russian steel giant said that its bid has the backing of the United Steel Workers (USW) union, while the USW had rejected Essar's bid. "In our view, Severstal is likely to win the bidding battle against Esmark, given its relatively low breakup fee (around $20m) and support from the union, which last week rejected the bid from Essar," commented UralSib. Alfa Bank wrote in a note to investors last week: "we believe that if the deal goes forward it will fit in well with Severstal's existing American assets in terms of operation synergies and product portfolio. We believe that Severstal will be able to establish its reputation by turning around its recently acquired operations in the US." Severstal is already the fourth-largest steel producer in the US and according to UralSib "the acquisition of Esmark will raise Severstal's current US steel-making capacity to 11.3m tons, which is close to Severstal's Russian operations (11.9m tons in 2007)." The analysts generally seem to agree that Severstal will be able to extract synergies from its clutch of US operations, and that buying US-assets is a timely bet since the US economy will likely soon resurface from its current slump. Nonetheless, UralSib points out that: "the market is likely to take a negative view of this latest acquisition at it further dilutes the profitable Russian steel operations." Regarding WCI, Deutsche Bank reckons that Severstal's offer is cheap. Including net debt of $191m, the offer equates to an enterprise value of $331m, and translates into EV/tonne of $270. The analysts comment that: "subject to management's ability to turn around and bring the planned synergies, it may be not a bad acquisition, in our view." Finally, regarding Africa, Severstal announced that its subsidiary Lybica Holding is to buy a 61.5% stake in African Iron Ore Group, which owns iron ore deposits in the Putu Range in Liberia. Lybica will pay $37.5m for the stake, and will pay a further GBP2m to buy 6.29% in Mano River Resources, which mines gold, precious metal and iron ore in West Africa and controls the African Iron Ore Group. 2. CEDC and Lion Capital to acquire control of Russia's largest vodka company businessneweurope.eu Renaissance Capital May 22, 2008 Event: Today (22 May), Vedomosti reported that CEDC and Lion Capital (a private equity fund) are looking to acquire stakes in Russian Alcohol, Russia's largest vodka company. CEDC would acquire a 40% stake and Lion Capital would acquire a 50% stake in the company, while management would retain the remaining 10%. CEDC will have an option to acquire a 10-20% stake from Lion Capital in 2010-2011. Total EV of the transaction is $600mn. Action: We do not cover CEDC stock. The news confirm that the Russian vodka market remains attractive to foreign companies and that market consolidation is well under way Rationale: CEDC is the largest vodka company in Poland and a leading distributor with strong positions in the Russian vodka market. In Mar 2008, CEDC announced the acquisition of the Russian vodka company Parliament. CEDC Group is also in talks to acquire Whitehall, a distributor and importer of the premium spirits in Russia. If the Russian Alcohol transaction is completed, CEDC will become the largest vodka company in Russia with at least a 10% market share. The acquisition should make CEDC a dominant player in the Russian vodka market, which, according to Business Analytica, had an estimated value of $17.1bn (retail prices terms) in 2007. bne comment: CEDC will pay $156.5m for the 40% stake, the company announced in a statement May 22. 3. Polymetal confirms Kerimov in talks to sell majority stake bne May 26, 2008 Polymetal released a statement May 19, confirming the earlier press reports that Suleiman Kerimov's Nafta Moskva is in talks to sell his stake of some 73% in the company, which is Russia's largest silver producer.
Load more

Recommended publications
  • KATALOG 2 0 PRZECIWWYBUCHOWYCH 0 2 OPRAW OŚWIETLENIOWYCH LED 2 VATRA Corporation
    0 0 2 KATALOG 2 0 PRZECIWWYBUCHOWYCH 0 2 OPRAW OŚWIETLENIOWYCH LED 2 VATRA Corporation Os'wietlenie profesjonalnie! http://vatra.ua VA RA Bezpieczeństwo, niezawodność, energooszczędność - to podstawowe zasady filozofii projektowania i produkcji naszych przeciwwybuchowych produktów VA RA oświetleniowych. Opierając się na wieloletnim doświadczeniu, wspólnych wysiłkach specjalistów ds. oświetlenia i elektryków, rozwiniętemu systemowi wymiany informacji z dostawcami i ciągłemu monitorowaniu potrzeb i oczekiwań klientów, dołożyliśmy wszelkich starań, aby połączyć to wszystko w naszych produktach oświetlenia.Ich wykorzystanie pozwoli stworzyć bezpieczne i komfortowe warunki pracy oraz zoptymalizować zużycie energii. To przyczyni się do wzrostu rentowności i konkurencyjności naszych klientów. Produkty przedstawione w tym katalogu są wynikiem ścisłej współpracy z naszymi klientami, partnerami i zespołami projektowymi. Podziękowania kierujemy do: ArcelorMittal Kryvyi Rih, METINVEST Group, D.TEK Holding, Interpipe Group, Yazaki Ukraine LLC, MANN+HUMMEL Filtration Technology Ukraine, Modern-Eхро Group, HeidelbergCement Ukraine, KNAUF Gips Skala, Chornobyl NPP - «Shelter», Fischer Ukraine, International airport LVIV, Ukrainian Railways, EnergoATOM, Sea Commercial Port «Yuzhny» М.V. Cargo & Cargill Corporation, NIBULON, Stevedoring Investment Co. - Group of Companies OREXIM, UkrNafta, UkrGazVydobuvannia - NaftoGaz Group, Odessa Port Plant, UkrTatNafta, Motor Sich, EUROCar - Atoll Holding - VW Group, SEBN UA, NKMZ (NovoKramatorsky Mashinostroitelny
    [Show full text]
  • No. 15, April 12, 2020
    THE UKRAINIAN WEEKLY Published by the Ukrainian National Association Inc., a fraternal non-profit association Vol. LXXXVIII No. 15 THE UKRAINIAN WEEKLY SUNDAY, APRIL 12, 2020 $2.00 Unprecedented quarantine measures Retired Metropolitan-Archbishop enacted to fight coronavirus in Ukraine Stephen Sulyk dies of COVID-19 PHILADELPHIA – Metropolitan-Arch- bishop emeritus Stephen Sulyk, who head- ed the Ukrainian Catholic Church in the United States in 1981-2000, died on April 6 at the age of 95. A day earlier, he had been hospitalized with symptoms of the corona- virus. Archbishop-Metropolitan Borys Gudziak wrote on Facebook on April 5: “A few hours ago, Archbishop Stephen was hospitalized. He is presenting the symptoms of COVID-19, and his vital signs are weak. The Archbishop is receiving comfort care. Everything is in the Lord’s hands.” Metropolitan Borys provided the follow- ing biography of the deceased hierarch. Stephen Sulyk was born to Michael and Mary Denys Sulyk on October 2, 1924, in Serhii Nuzhnenko, RFE/RL Balnycia, a village in the Lemko District of National deputies leave the Verkhovna Rada wearing protective masks. the Carpathian mountains in western Ukraine. In 1944, he graduated from high Retired Metropolitan-Archbishop Stephen Sulyk by Roman Tymotsko infectious diseases, a person faces criminal school in Sambir. After graduation, the events prosecution. of World War II forced him to leave his native with the additional responsibilities of chan- KYIV – As Ukraine enters the second Beginning on April 6, being in public land and share the experience of a refugee. cery secretary. month of its coronavirus quarantine, new places without a facemask or a respirator is He entered the Ukrainian Catholic From July 1, 1957, until October 5, 1961, restrictions were enacted on April 6.
    [Show full text]
  • Anders Åslund
    Anders Åslund Ukraine: What Went Wrong and How to Fix It Anders Åslund BESET BY RUSSIAN MILITARY AGGRESSION and the legacy from its years of economic mismanagement, Ukraine faces an existential crisis that has also roiled the politics of Europe. Yet there is a glimmer of hope and opportunity for this tormented country. In 2014 Ukraine carried out free and fair elections of a new president and parliament. With this democratic foundation, Ukraine can shape its future and return to economic and political stability. In this book, one of the world’s leading experts on Ukraine offers its new leadership a strategy for reform. Anders Åslund maintains that the country’s fundamental problem is corruption and poor governance, which requires radical reform of the state from the top down. He calls for the cleansing of the judiciary and law enforcement, including the abolition of the many intrusive inspection agencies, which use a regime of licenses, permits, and certifications to squeeze the lifeblood of the economy. The book also advocates cuts in wasteful public expenditures and deregulation to promote growth—but it also calls for international financing spearheaded by the International Monetary Fund. The European UKRAINE Union and the United States must also help. The book focuses extensively on the energy sector, which Åslund argues is the biggest source of top-level corruption and wasteful subsidies and should be reformed with a unified system of energy prices determined by the market, not government. Åslund also details a series of reforms in education and health care. To assure Ukraine’s success, the European Union must assume the role of anchor of the country’s democratic and market economic reforms.
    [Show full text]
  • The Future of Ukrainian Oligarchsdownload
    Ukrainian Institute for the Future is an independent analytical center that: • forecasts changes and models possible scenarios for events in Ukraine; • makes a competent assessment of the Ukrainian events; • makes specific recommendations for actions; • offers effective solutions; • offers a platform for discussions on current topics. It is a project of representatives of Ukrainian business, politics and the public sector. Founded in summer 2016. AUTHORS Victor Andrusiv Executive Director of the Ukrainian Institute for the Future, PhD in Political Science, analyst and opinion journalist, author of the book “Change the future” Oleg Ustenko Executive Director of the Bleyzer Foundation, President of Harvard Club of Ukraine alumni association Yurii Romanenko Co-founder of the Ukrainian Institute for the Future, head of the International and Domestic Policy programme, editor-in-chief of the portal Hvylya Ihar Tyshkevich Expert of International and Domestic Politics programme of the Ukrainian Institute for the Future (UIF) © Art-direction D!VANDESIGN © Idea and design INCOGNITA INTRODUCTION. THE BRITISH DISEASE IN UKRAINE Content 05 THEORY AND STRUCTURE OF THE UKRAINIAN OLIGARCHY 06 INFLUENCE OVER ENERGY INDUSTRY 14 INFLUENCE OVER METALLURGY 26 INFLUENCE OVER TRANSPORT INFRASTRUCTURE 38 INFLUENCE OVER MEDIA 50 INFLUENCE OVER POLITICS 62 THREE SCENARIOS FOR THE FUTURE OF THE OLIGARCHS 72 Victor Andrusiv Executive Director of the Ukrainian Institute for the Future, PhD in Political Science, analyst and opinion journalist, author of the book “Change the future” Introduction: the British disease in Ukraine After the fall of the Soviet Union, the starting conditions for economic development in Ukraine were advanta- geous. However, after 27 years of independence, we continue to be the most backward country of the post-Sovi- et bloc.
    [Show full text]
  • The Orange Revolution: a Case Study of Democratic Transition in Ukraine
    THE ORANGE REVOLUTION: A CASE STUDY OF DEMOCRATIC TRANSITION IN UKRAINE Anastasiya Salnykova BA, National University "Kyiv-Mohyla Academy", 2004 THESIS SUBMITED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF ART In the Department of Political Science @ Anastasiya Salnykova 2006 SIMON FRASER UNIVERSITY Spring 2006 All rights reserved. This work may not be reproduced in whole or in part, by photocopy or other means, without permission of the author. APPROVAL I Name: Anastasiya Salnykova Degree: Master of Arts Title of Thesis: The Orange Revolution: A Case Study of Democratic Transition in Ukraine Examining Committee: Chair: Dr. Tsuyoshi Kawasaki Associate Professor of Department of Political Science Dr. Lenard J. Cohen Senior Supervisor Professor of Department of Political Science Dr. Alexander Moens Supervisor Professor of Department of Political Science Dr. Ilya Vinkovetsky External Examiner Assistant Professor of Department of History Date Defended/ Approved: April 6th, 2006 ii 2E: SIMON FRASER . &&W ~~~v~~~~nl~brary DECLARATION OF PARTIAL COPYRIGHT LICENCE The author, whose copyright is declared on the title page of this work, has granted to Simon Fraser University the right to lend this thesis, project or extended essay to users of the Simon Fraser University Library, and to make partial or single copies only for such users or in response to a request from the library of any other university, or other educational institution, on its own behalf or for one of its users. The author has further granted permission to Simon Fraser University to keep or make a digital copy for use in its circulating collection, and, without changing the content, to translate the thesislproject or extended essays, if technically possible, to any medium or format for the purpose of preservation of the digital work.
    [Show full text]
  • Conditions of Resuming and Completing Privatization in Ukraine
    CONDITIONS OF RESUMING AND COMPLETING PRIVATIZATION IN UKRAINE Analytical report and recommendations for the State Privatization Program Vladimir Dubrovskiy Alexander Paskhaver Lidia Verkhovodova Barbara Blaszczyk Kyiv-Warsaw, 2007 The views and opinions expressed here reflect the authors’ and not necessarily those of the CASE or the Ministry of Foreign Affairs of the Republic of Poland This publication is part of the project Development of the Analytical Basis for Amending of the State Program for Privatization. The project was financed by the foreign aid programme of the Ministry of Foreign Affairs of the Republic of Poland Keywords: privatization results, legitimization, reprivatization, land plots sale, foreign investors, international experience © CASE Center for Social and Economic Research, Warsaw © Center for Social and Economic Research, CASE Ukraine, Kyiv CASE - Center for Social and Economic Research Center for Social and Economic Research – Sienkiewicza 12, 00-010 Warsaw, Poland CASE Ukraine tel.: (4822) – 622-66-27, 828-61-33, 10, Starokyivska Str., 0ffice 107, fax: (4822) – 828-60-69 Kyiv, 04116, Ukraine. E-mail: [email protected] Tel/fax: (38044) – 227-53-17 http://www.case.com.pl E-mail: [email protected] http://www.case-ukraine.com.ua 2 Table of Content Introduction 4 1. Privatization outcomes after 15 years 5 1.1. Major stages of privatization in short 5 1.2. Property structure at the beginning of privatization 5 1.3 Scope of privatization 6 1.4. The scope of private and state sectors in the economy and their role 9 1.5. The government privatization programs 11 1.6. The “on request” privatization period and the response of the Orange Revolution 13 1.7.
    [Show full text]
  • Sevki ACUNER Currently Holds the Position of EBRD Director for Ukraine (Since 2013)
    Sevki ACUNER currently holds the position of EBRD Director for Ukraine (since 2013). Previously, he held the position of EBRD Deputy Country Director for Turkey. During his 21-year career at the EBRD, Mr. Acuner occupied senior manager positions in the Credit Risk and Agribusiness departments before being appointed to Turkey in 2009. Prior to joining the EBRD, Mr. Acuner worked at the Central Bank of Turkey, the Bank of Montreal and the Royal Bank of Canada in various North American and European countries. Mr. Acuner is a Turkish national and holds a BSc in Management from Bosphorus University, Istanbul, and an MBA from Concordia University, Montreal, Canada. Alain AESCHLIMANN is Head of Delegation for Ukraine in the International Committee of the Red Cross (ICRC) since 2015. Mr. Aeschlimann has been working in the International Committee of the Red Cross (ICRC) since 1987. His field appointments included Deputy Head of Delegation in Angola and Peru; Head of Delegation in Iraq, Israel and the Autonomous and Occupied Palestinian Territories, and Ethiopia. Mr. Aeschlimann served as Former Coordinator for operational Legal Advisers, Deputy and then Head of Central Tracing Agency and Protection Division, and Head of Operations (Regional Director) for South-East Asia, East Asia and the Pacific at ICRC headquarters in Geneva. He is the author of several articles on humanitarian issues and action (“Protection of IDPs: an ICRC View”; “Protection of Detainees: ICRC Action Behind Bars”; “The development of protection in the field by the ICRC”; “Overview of protection issues in contexts of multinational peace operations” and others). Mr. Aeschlimann holds a Degree in Law from the University of Neuchâtel, Switzerland.
    [Show full text]
  • The Sustainability of the Iron and Steel Industries in Ukraine: Challenges and Opportunities
    Author's personal copy J. Sustain. Metall. DOI 10.1007/s40831-015-0036-2 THEMATIC SECTION: ADVANCES IN METALLURGICAL PROCESSES AND MATERIALS The Sustainability of the Iron and Steel Industries in Ukraine: Challenges and Opportunities Volodymyr Shatokha1 Ó The Minerals, Metals & Materials Society (TMS) 2015 Abstract The iron and steel industries are indispensable Introduction components of the Ukrainian economy: throughout the decades they have provided nearly 25 % of GDP, 40 % of The iron and steel industry has incredible importance for export revenue, 25 % of industrial production, and have various components of Ukraine’s sustainable development: employed over half a million people. Steelmaking is also it provides jobs to over half a million people, provides the largest energy consumer of electricity and fossil fuels, nearly 25 % of GDP, 40 % of export revenue, and 25 % of being responsible for over 25 % of hazardous atmospheric industrial production. This industry is also responsible for emissions and over 30 % of carbon dioxide emissions from over 25 % of hazardous atmospheric emissions and over the country’s industrial sources. The socio-economic, 30 % of CO2 emissions from the industrial sources due to technological, and environmental aspects of sustainable its largely obsolete facilities, being the largest energy industrial development have been studied based upon the consumer of electricity (15.6 %), and fossil fuels (14.2 %) data concerning mineral resources and fossil fuels, on the [1]. Therefore, it is impossible for Ukraine to meet envi- production facilities, on the steel consumption and export ronmental sustainability standards and to ensure socio- structures, etc. Current challenges, in relation to energy economic development without the radical modernisation efficiency, the quality of raw materials, the conditions of of its iron and steel industry.
    [Show full text]
  • The Ukrainian Weekly 2007, No.29
    www.ukrweekly.com INSIDE: • Ukraine’s premier foreign policy event in Yalta — page 3. • The Euro 2012: what’s ahead for Ukraine — page 10. • Soyuzivka’s first Ukrainian Film and Cultural Festival — centerfold. HE KRAINIAN EEKLY T PublishedU by the Ukrainian National Association Inc., a fraternal non-profitW association Vol. LXXV No. 29 THE UKRAINIAN WEEKLY SUNDAY, JULY 22, 2007 $1/$2 in Ukraine Thousands gather at Soyuzivka for inaugural Ukrainian festival by Matthew Dubas sustaining operation that will sponsor children’s camps, cultural programs and KERHONKSON, N.Y. – Thousands other community projects. gathered for first Ukrainian Film and Guests were treated to the usual festi- Cultural Festival, held on July 11-15 here val features like vendors, food, refreshing at the Soyuzivka Heritage Center in the drinks and a packed stage program spot- picturesque setting of the Shawangunk lighting dancers, vocalists and musicians. Mountains. The festival was sponsored As an added bonus, for the first time at a by the Ukrainian National Foundation, Ukrainian festival, a variety of films by the charitable arm of the Ukrainian Ukrainian and non-Ukrainian filmmakers National Association, for the purpose of were screened, affording both the casual raising funds for the newly created movie watcher and the serious enthusiast Soyuzivka Heritage Foundation. a chance to see a broad range of film gen- A donor-based foundation, the res, to meet with some of the filmmakers Soyuzivka Heritage Foundation will and participate in discussions. enable Soyuzivka to become a true her- Opening ceremonies were kicked itage center, with the goal of promoting, off with uniformed members of the cultivating and preserving the unique Ukrainian American Youth Association culture and heritage of the Ukrainian (UAYA) and Plast Ukrainian Scouting immigration, and is part of an overall Christine Syzonenko plan to help Soyuzivka become a self- (Continued on page 11) Workshop dancers soar through the air during the Hopak at Soyuzivka’s festival.
    [Show full text]
  • Ukrainian Metallurgy: the Economic Link in the Oligarchic Power System
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Policy Documentation Center T h e s e s 1. The metallurgic sector, like the east-west transit of energy raw materials, is a strategic source of revenue for Ukraine. Over the last ten years, this sector has become Kiev’s most important source of foreign currency inflows, accounting for over 40 per cent of its total export revenues. The growth of metallurgic pro- duction, which has continued almost without interruption since the mid-1990s, has contributed considerably to the increase in GDP which Ukraine showed in 2000, for the first time in its inde- pendent history. 2. The sector’s economic results improved over recent years in spite of the crisis affecting the machine building industry (includ- ing the armaments industry), the traditional buyer of metallurgic Ukrainian metallurgy: goods. The success of Ukraine’s metallurgy sector resulted from the economic link in the the relatively favourable overseas economic situation in the late- 1990s and the dynamic growth of exports. An important role was oligarchic power system also played by the authorities’ policy of granting the metallurgic industry a series of tax rebates in 1999 as part of the so-called Arkadiusz Sarna economic experiment in the sector. Facing both the decline in the world economic situation and the Ukrainian metallurgy sector’s dependence on foreign markets, the authorities in Kiev have cho- sen to continue their original policy of favouring this sector. The importance of metallurgic exports for Ukraine could be compared to the importance of energy raw material exports for Russia.
    [Show full text]
  • The Oligarchic Democracy. the Influence of Business Groups On
    42 THE OLIGARCHIC DEMOCRACY THE INFLUENCE OF BUSINESS GROUPS ON UKRAINIAN POLITICS Sławomir Matuszak NUMBER 42 WARSAW September 2012 THE OLIGARCHIC DEMOCRACY THE INFLUENCE OF BUSINESS GROUPS ON UKRAINIAN POLITICS Sławomir Matuszak © Copyright by Ośrodek Studiów Wschodnich im. Marka Karpia / Centre for Eastern Studies Content EDitors Adam Eberhardt, Wojciech Konończuk EDitorS Anna Łabuszewska Katarzyna Kazimierska Translation Ilona Duchnowicz CO-operation Nicholas Furnival Graphic Design Para-buch CHARTS Wojciech Mańkowski PHOTOGRAPH ON COVER Shutterstock DTP GroupMedia Publisher Ośrodek Studiów Wschodnich im. Marka Karpia Centre for Eastern Studies ul. Koszykowa 6a, Warsaw, Poland Phone + 48 /22/ 525 80 00 Fax: + 48 /22/ 525 80 40 osw.waw.pl ISBN 978-83-62936-14-4 Contents THESES /5 MAIN SEctORS OF BUSINESS ActIVITY OF THE KEY UKRAINIAN OLIGARCHS /8 INTRODUctION /9 RESERVATIONS /11 I. THE EMERGENCE OF THE OLIGARCHIC SYSTEM AND ITS FORM IN 1991–2004 /13 1. The genesis of the oligarchic system /13 2. The formation of the clans /13 3. The beginnings of a system crisis /17 4. The Orange Revolution /20 II. THE OLIGARCHS IN 2005–2010 /23 1. The orange ‘oligarchic democracy’ /25 1.1. The business circles linked to the Party of Regions /26 1.2. ‘Orange’ business /27 1.3. The others /30 2. Tymoshenko’s conflict with the RUE Group /32 3. The attempt to form a grand coalition /32 4. The presidential election of 2010 /34 III. THE OLIGARCHS AFTER VIKTOR YANUKOVYCH’S VIctORY /37 1. The key groups of influence in the state administration/37 2. ‘The family’ – an attempt at a new quality /40 3.
    [Show full text]
  • The Mineral Industry of Ukraine in 2011
    2011 Minerals Yearbook UKRAINE U.S. Department of the Interior September 2013 U.S. Geological Survey THE MINERAL INDUSTRY OF UKRAINE By Mark Brininstool Ukraine was among the world’s leading producers of a of the coal industry, and the Coal Industry Workers’ Union of number of minerals. It was one of the world’s top four producers Ukraine reported that as of January 1, 2011, about 300,000 of of gallium, the fourth ranked producer of rutile (accounting its members were listed as “working” members (Coal Industry for 8% of world output), the fifth ranked producer of titanium Workers’ Union of Ukraine, 2011; State Statistics Service of sponge (5% of world output), the sixth ranked producer of Ukraine, 2011c, p. 372; 2012b, c). iron ore (3% of world output), the seventh ranked producer of manganese ore (2.4% of world output), and the eighth ranked Production producer of ilmenite (5% of world output) and steel (2.3% of world output). The country had significant coal reserves but In 2011, production of kaolinitic clays increased by was dependent on imports to satisfy most of its petroleum and 88%; nitrogen, by 26%; feldspar and peat, by 23% each; natural gas demand. Ukraine was also an important transit titanium sponge, by 22%; salt and kaolin, by 21% each; sulfuric country for natural gas and petroleum from Central Asia and acid, by 19%; marketable coal, by 15%; bentonite, by 14%; Russia to Europe (Corathers, 2012; Gambogi, 2012a, b; Jaskula, and cement and limestone, by 11% each. Production of primary 2012; Jorgenson, 2012; World Steel Association, 2012, p.
    [Show full text]