Property Fund Calls 5 Austrians Ultimate Owners Of Ukrtelecom

The State Property Fund of Ukraine calls five Austrian nationals, three of whom are EPIC managing partners, the ultimate owners of ESU (Kyiv; subsidiary of the European Privatisation and Investment Corporation, EPIC, Austria), which on March 11 acquired 92.79% of shares in Ukrtelecom, Ukraine’s biggest telecommunication company, Property Fund Chairman, Oleksandr Riabchenko, has announced when speaking to the Verkhovna Rada.

In his words, EPIC managing partner Peter Goldscheider holds 24% of the shares, Brigitte Goldscheider 23.5%, EPIC managing partner Gustav Wurmboeck 24%, Marina Wurmboeck 23.5%, and Franz Lanschutzer, another managing partner, 5%.

He notes that ESU, when submitting documents for the privatisation, provided information about its owners.

“The buyer (ESU) is owned by a Cyprus-based company [EPIC Telecom Invest Ltd], the Cyprian company belongs to the Austrian company [EPIC], and the Austrian company is owned by five Austrian citizens,” he said.

Before, EPIC said that EPIC Goldscheider & Wurmbock, Vienna (EPIC), the exclusive owner of EPIC Advisors Limited (EAL), which through its subsidiary, EAL, is the sole owner of EPIC Services Ukraine (ESU), had made a decision to optimise the holding structure, having adapted it for the privatisation of Ukrtelecom by transferring rights to direct ownership of ESU to EPIC Telecom Invest Ltd (ETI).

EAL is 100-percent owned by ETI.

As Ukrainian News earlier reported, the State Property Fund on March 11 sold 92.79% of shares in Ukrtelecom to ESU for UAH 10.575 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *