Economy 2022-08-15T06:33:46+03:00
Ukrainian news
Businessman Novinsky-Controlled Pelidona Ups Share In Regal Petroleum From 54% To 82.7%, Businessman Pinchuk-A

Businessman Novinsky-Controlled Pelidona Ups Share In Regal Petroleum From 54% To 82.7%, Businessman Pinchuk-Associated Companies Sell Their Stakes In It

Vadim Novinsky, Viktor Pinchuk, Pelidona Services Limited, Regal Petroleum

Businessman Vadim Novinsky-controlled Pelidona Services Limited has expanded its share in Regal Petroleum (the United Kingdom) from 54% to 82.65%, while businessman Viktor Pinchuk-associated companies have sold their stakes in it.

This follows from respective statement of Regal Petroleum posted at the London Stock Exchange, Ukrainian News Agency reports.

At the same time, Kelda Limited and Tomkins Trading Limited (both based in Hong Kong), have sold their 14.326-percent stake in Regal Petroleum.

Earlier, Kelda Limited and Tomkins Trading Limited were controlled by Viktor and Olena Pinchuk.

As Ukrainian News Agency earlier reported, Kelda Limited (Hong Kong), which businessman Viktor Pinchuk controls through Kylestone Limited (British Virgin Islands), has concentrated 28.652% in Regal Petroleum Plc (the United Kingdom).

Previously, Kelda Limited owned 24.432% of Regal Petroleum shares.

In August 2018, Kelda Limited, through its subsidiary Kylestone Limited (British Virgin Islands), bought 24.432% of the shares of Regal Petroleum.

At the same time, Crosson Overseas Limited, which is owned by the Alfa Group (Russia), sold its 24.432% stake in Regal Petroleum and withdrew from the shareholders of Regal Petroleum.

Regal Petroleum reported a profit of USD 2.3 million for 2017, when its revenue increased by USD 9.4 million or 36.6% to USD 35.1 million.

The Smart Holding group gained control of the Regal Petroleum oil and gas company through Energees Management Limited (Cyprus) in March 2011.

Regal Petroleum, which has been operating in Ukraine since 1999, suspended development of its major assets in Ukraine – the Mekhedivsko-Holotovschynske (MEX-GOL) and Svyrydivske (SV) gas condensate deposits in the Poltava region – in November 2010 and resumed it in August 2011.

Regal Petroleum decided to acquire the Prom-Energo Product oil and gas company, which is also part of Smart Holding, for UAH 305 million (about USD 12.3 million) in June 2016.

Energees Management owns a 54% stake in Regal Petroleum.

Member of Parliament Vadim Novinsky (Opposition Bloc faction) controls the Smart Holding group.