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VTEK Group honcho reports paying $125 million for Odessa Oil Refinery
Journal Staff Report

KIEV, July 1 – VETEK Group paid $125 million in its recent acquisition of the Odessa oil refinery, the beneficiary of the group, Serhiy Kurchenko, said in an interview with Forbes.

"UMH cost some $170 million [Ukrainian Media Holding, one of the largest players on the Ukrainian media market], the club [FC Metallist] was less than $100 million, and Odessa oil refinery: Lukoil stopped the refinery as it did not bring profits. Who much the unprofitable refinery could cost? Unfortunately, under the contract, I cannot disclose the sum. Finally: $100 plus $175 plus Odessa oil refinery. At best, it is $400 million. I stress that this is the maximum figure," he said.

The cost of a deal on UMH does not exceed $340 million (under the conditions of the deal the second half of the sum is paid by April 2014), the cost of Odessa oil refinery does not exceed $125 million and that for FC Metallist - $100 million. Kurchenko did not say what the cost of the football club includes (the stadium, infrastructure, players).




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