On Friday, February 25, 2011, DCH Group completed the sale of LLC Merefa Glass Company. The new owner of the company is a Turkish company Trkiye Şişe ve Cam Fabrikaları A.Ş. (Sisecam) represented by Balsand BV controlled by them. The deal amounted to about EUR 32 million based on an assessment of the company, based on the total enterprise value.
"Merefa Glass Company is a part of DCH productive assets. The Group has decided to sell non-core assets, which determined the output of the Group of the ICN project and the deal with Trkiye Şişe ve Cam Fabrikaları A.Ş. (Sisecam), to the mutual satisfaction of both sides. We are sure that the new owner of the company would be interested in the growth of the company, increasing the number of jobs and in development in the region"- said Vitaliy Ivanchenko, Director of Department of mergers and acquisitions of DCH Investment Management (the managing company of DCH) about the deal.
Info: LLC Merefa Glass Company - a leading enterprise of the Kharkiv region for the production of glass containers. Glass plant was founded in 1896. From 2006 to 2008, the company has been fully modernized. In 2008, the opening of new production facilities of a glass factory, construction of which was financed by DCH group. In 2010, net sales exceeded UAH 134 million and the production of glass was more than 230 million pieces.
Group of Companies DCH (www.dch.com.ua) - one of the largest and most dynamic business groups in Ukraine, with assets in various industrial accessories. Beneficiary - Oleksandr Iaroslavskyi, a powerful Ukrainian businessman, included in the top-10 richest Ukrainians (according to the magazine "Correspondent" and the Kyiv Post, 2010), the general investor and coordinator of the Kharkiv preparation for Euro 2012. DCH consolidates the most of the assets of one of the oldest and most powerful financial-industrial groups in Ukraine - "UkrSibb" group. DCH assets are represented by industrial enterprises, construction and development companies, financial institutions, etc. Since 2007, the Group implements a complex program of Kharkiv preparations for Euro 2012, which includes reconstruction of several objects of the sports infrastructure of the city (including Metalist stadium) and the International Airport Kharkiv. Total investment in the program is 251 million dollars.