The Anti-Monopoly Committee of Ukraine (AMCU) allowed a company owned by Ukrainian entrepreneur Hennadii Butkevych to acquire a stake in the concrete and building materials factory Aeroc.
The permission was granted to Trident Geoinvest Ukraine LLC, owned by Hennadii Butkevych, the co-owner of one of Ukraine’s largest grocery stores – ATB and founder of the investment company – BGV Group Management.
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Aeroc, an aerated concrete products manufacturer, was previously owned by Russian billionaire Andrei Molchanov before it was confiscated in Ukrainian court and sold at state auction on Dec. 19, 2024.
Three participants took part in the auction and the final price for the asset was estimated at almost Hr.2 billion ($45 million).
The AMCU granted permission to Trident to acquire more than 50% of the company’s shares, also ensuring over 50% of the votes in Aeroc’s management, AMCU wrote in its press release on Thursday.
Before the full-scale invasion, Aeroc was Ukraine’s largest producer of aerated concrete blocks, Forbes Ukraine wrote.
“The company has factories in Obukhiv and Berezan, Kyiv region. According to YouContol, Aeroc’s revenue in 2021 was Hr.1.83 billion ($65.36 million). After the nationalization of the factories, production ceased, and the company’s revenue decreased by more than 1,500 times – to Hr. 1.16 million ($27,619) last year,” the media outlet wrote.
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