Media reports Kolesnikov to put Konti confectionery firm on market
Asking price is reportedly USD 1 billion for the country’s second largest candy manufacturer
KYIV, July 9, 2013 (UBO) - Konti Company, whose main beneficiary is former Vice Prime Minister Borys Kolesnikov, is to be put on the market with a reported USD 1 billion as the asking price for the country’s second largest candy manufacturing firm, Forbes.ua said, UkrInform reported today.
“The first round of formation of offers from potential buyers will be held in September. The Konti consultant will be the British investment bank Barclays,” the publication said.
Kolesnikov did not deny the fact of the pre-sale preparation. However, he refused to comment on the motives of such a decision, having readdressed all the questions to the Konti supervisory council.
Earlier, the business resource Mergermarket informed about his plans to sell the company. The publication noted that Konti owners intend to get USD 1 billion from its sale.
Director of the Dragon Capital investment-banking department Mykhailo Hranchak believes that the Konti purchase could be interesting primarily to global players, already present on the Ukrainian and Russian markets.
“Following the Konti purchase, such players could reach synergy at the expense of optimization of administrative and marketing expenses of the united company, and boost its presence on the markets of Ukraine and Russia,” the expert is convinced.
The Konti group is the second by the volume of confectionery production in Ukraine and the fourth in Russia by results of 2012. Its earnings in 2012 - UAH 3.4 billion, profit totaling UAH 268 million.