#41 Richest: Ihor Yeremeyev, 42

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Dec. 17, 2010 01:28
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$295 million
Married with one son
Interests: dairy production, telecommunications, oil
In a recent rating of Ukraine’s biggest debtors, compiled by the Mirror Weekly newspaper, Ihor Yeremeyev ranks third, owing around $176 million to banks.

Not such good news for the businessman, a co-owner of Kontinium Group, with business interests ranging from dairy products to telecommunications and oil.
It must be a public company with clear rules of play. If we see that the company is not transparent, we won’t sell.”

- Ihor Yeremeyev.

But it’s a bit premature to feel sorry for Yeremeyev.

Even if worse things are to come, he could still pay off his debts and have some cash left – more than the majority of people earn in a lifetime.

But most importantly, one of Yeremeyev's assets, Kherson Oil Refinery, one of six in the country, is so potentially lucrative that it could make his life much easier.

The catch is that it requires a major upgrade that costs around $800 million.

One of the main tasks for Yeremeyev, who wants to keep the refinery, is finding such an investor, and in one of his rare interviews he didn’t even exclude selling a controlling stake.

“It must be a public company with clear rules of play,” Yeremeyev noted, talking to Delo business daily. “If we see that the company is not transparent, we won’t sell.”

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