You're reading: Cypriot firm Epic Telecom Invest sells Ukrtelecom to Cypriot UA Telecominvest

UA Telecominvest Limited, founded in October 2012, has acquired 100% of the charter capital of ESU LLC, from EPIC Telecom Invest Limited (both based in Cyprus), obtaining control over 92.7906% of the share capital of public joint-stock company Ukrtelecom. 

A report of ESU says that the deal was signed on Jan. 16, 2013.

The State Property Fund of Ukraine told Interfax-Ukraine that the fund does not know about the change of the owner of ESU LLC, which won a tender to sell a 92.7906% stake in Ukrtelecom for Hr 10.575 billion. The deal was closed in May 2011. The end buyers were five citizens of Austria.

The fund told Interfax-Ukraine that they would analyze all of the privatization documents in order to clarify the liabilities, so as to agree on ownership rights transfers with the seller.

“The main thing for us is the fulfillment of investment liabilities,” the fund said. 

There is no additional information on UA Telecominvest, which is registered to the same address in Nicosia (Cyprus) as EPIC Telecom Invest. It is known that its payment to the capital of Ukrainian ESU LLC totals Hr 6.978 billion.

As of October 31, 2012, the charter capital of ESU was Hr 4.804 billion.

Interfax-Ukraine has not managed to obtain comments on the deal from EPIC’s owners.