The Antimonopoly Committee has approved the acquisition of Polissya by the Magnum Fund, owned by businessman and owner of Polissya Gennadiy Butkevych, of UT Power, the AMCU press service reports. The company's main activity is electricity generation.
According to the report, the committee granted Magnum permission to acquire control over UT Power together with Ukrteplo Management Company LLC.
The main activity of UT Power is electricity generation, among other activities: transmission and distribution of electricity, supply of hot water and air conditioning, construction of residential and non-residential buildings, etc.
According to YouControl, Magnum is owned by Gennadiy Butkevych, who is a co-owner of the ATB supermarket chain and president of the Polissya football club. "Butkevich's Magnum owns 18.88% of UT Power, according to the data. Forbes estimated Butkevych's wealth at $530 million.
The main owner of the company (81.12%) is Ukrteplo LLC, owned by Ivan Nadein. He is the president of FC Veres.