In October, when Ihor Kolomoisky became president of the European Council of Jewish Communities, one Israeli newspaper described his rise to head the organization as a “putsch.”

At home, meanwhile, rumors swirl that Kolomoisky’s own assets are coming under pressure from the all-powerful new authorities and that he is spending increasingly more time in Switzerland.

Nevertheless, the Dnipropetrovsk native has managed to boost his business interests this year in a number of fields.

In April, he bought out Central European Media Enterprises’ stake in Ukrainian television channels 1+1, City, Kino and TET for around $300 million.

In October, he increased his stake in the small but London-traded oil and gas producer JKX to 25 percent.

He’s also been active abroad, purchasing a $14.5 million controlling stake in Gudauri ski resort in Georgia.


Kolomoisky hasn’t had so much luck with privatizations. His Privat Group complained one of its companies had been unfairly excluded from the privatization of locomotive manufacturer Luhanskteplovoz in spring.

Dniproavia, which Kolomoisky controls, announced in December it was interested in buying the state’s 61.58 percent stake in Ukraine International Airlines.

But he’s likely to miss out again.

Privatization chief Oleksandr Ryabchenko said no auction will be held as, according to the airline’s charter, minority shareholders are allowed to bid first, and therefore could snap the carrier up for just over $30 million.

To suggest a correction or clarification, write to us here
You can also highlight the text and press Ctrl + Enter