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Privat Group
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Privat Group
The Privat Group, or PrivatBank Group (Ukrainian: Група «Приват», romanized: Hrupa "Pryvat") is a global business group, based in Ukraine. Privat Group controls thousands of companies of virtually every industry in Ukraine, the European Union, Georgia, Ghana, Russia, the United States, and other countries. Steel, oil & gas, chemical and energy are sectors of the group's prime influence and expertise. None of the group's capital is publicly traded on any stock exchange.
The business group was grouped around PrivatBank. On 18 December 2016 this bank was nationalized by the government of Ukraine, taking 100% ownership.
The group is controlled by the billionaire businessmen Hennadiy Boholyubov, Oleksiy Martynov, and Ihor Kolomoyskyi (the latter is the richest and leading partner that is best known to the public).
As a business-oligarch entity, Privat Group controls some prominent Ukrainian media, maintains close relations with politicians, and sponsors professional sports.
Key businesses of the group (as well as nationalized PrivatBank itself) are based in Dnipropetrovsk Oblast. The group's founding owners, natives of Dnipro, made their entire careers there.
In 1990, the graduates of the Dnipropetrovsk universities, Gennadiy Bogolyubov, Ihor Kolomoyskyi and Oleksiy Martynov, created the first joint business: Bogolyubov and Kolomoisky bought the office equipment in Moscow, and Martynov was engaged in its marketing in Dnipro. After the collapse of the USSR, friends returned to Dnipropetrovsk and began to import various goods - from sneakers and sportswear to telephones. At this stage, they had a fourth partner, the son of a major Soviet entrepreneur, Leonid Miloslavsky. Each of the partners owned 25% in the total business. To pay for imported goods, the partners set up the export of steel products, Kolomoisky was in charge of this. Soon they realized that it was more profitable to trade the metal, and then they started to import oil products and began to buy the premises for their storage and transportation. They also took up the ferroalloy direction: the group supplied fuel to the Pokrovsky (Ordzhonikidzevsky) GOK, receiving in return manganese ore and sending it for export; Martynov was responsible for this direction.
In 1992, Serhiy Tihipko, the former head of the Dnipropetrovsk Komsomol Party, suggested to Miloslavsky to set up a bank. Kolomoisky initially opposed this idea, but eventually agreed [2]. In March 1992, four companies — Vist LLC, Sentosa LLC, Som LLC, and Privat-Intertreyding CJSC — established Privatbank CJSC. Tigipko became chairman of the board, and Miloslavsky headed the supervisory board. Unlike state-owned banks, Privat willingly served private entrepreneurs. 1995 became the crucial year for the Privatbank Group business when the bank have joined voucher privatization.
Having accumulated 1.2 million certificates (2.3% of their total number), the bank began to purchase the shares of the metallurgical enterprises. The first company whose shares Privat received in exchange for certificates was the Dnipropetrovsk hardware plant. With the help of vouchers, Privat entered the capital and established operational control over the Nikopol Ferroalloy Plant, Pokrovsky (Ordzhonikidze) and Marganets GOKs.
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Privat Group
The Privat Group, or PrivatBank Group (Ukrainian: Група «Приват», romanized: Hrupa "Pryvat") is a global business group, based in Ukraine. Privat Group controls thousands of companies of virtually every industry in Ukraine, the European Union, Georgia, Ghana, Russia, the United States, and other countries. Steel, oil & gas, chemical and energy are sectors of the group's prime influence and expertise. None of the group's capital is publicly traded on any stock exchange.
The business group was grouped around PrivatBank. On 18 December 2016 this bank was nationalized by the government of Ukraine, taking 100% ownership.
The group is controlled by the billionaire businessmen Hennadiy Boholyubov, Oleksiy Martynov, and Ihor Kolomoyskyi (the latter is the richest and leading partner that is best known to the public).
As a business-oligarch entity, Privat Group controls some prominent Ukrainian media, maintains close relations with politicians, and sponsors professional sports.
Key businesses of the group (as well as nationalized PrivatBank itself) are based in Dnipropetrovsk Oblast. The group's founding owners, natives of Dnipro, made their entire careers there.
In 1990, the graduates of the Dnipropetrovsk universities, Gennadiy Bogolyubov, Ihor Kolomoyskyi and Oleksiy Martynov, created the first joint business: Bogolyubov and Kolomoisky bought the office equipment in Moscow, and Martynov was engaged in its marketing in Dnipro. After the collapse of the USSR, friends returned to Dnipropetrovsk and began to import various goods - from sneakers and sportswear to telephones. At this stage, they had a fourth partner, the son of a major Soviet entrepreneur, Leonid Miloslavsky. Each of the partners owned 25% in the total business. To pay for imported goods, the partners set up the export of steel products, Kolomoisky was in charge of this. Soon they realized that it was more profitable to trade the metal, and then they started to import oil products and began to buy the premises for their storage and transportation. They also took up the ferroalloy direction: the group supplied fuel to the Pokrovsky (Ordzhonikidzevsky) GOK, receiving in return manganese ore and sending it for export; Martynov was responsible for this direction.
In 1992, Serhiy Tihipko, the former head of the Dnipropetrovsk Komsomol Party, suggested to Miloslavsky to set up a bank. Kolomoisky initially opposed this idea, but eventually agreed [2]. In March 1992, four companies — Vist LLC, Sentosa LLC, Som LLC, and Privat-Intertreyding CJSC — established Privatbank CJSC. Tigipko became chairman of the board, and Miloslavsky headed the supervisory board. Unlike state-owned banks, Privat willingly served private entrepreneurs. 1995 became the crucial year for the Privatbank Group business when the bank have joined voucher privatization.
Having accumulated 1.2 million certificates (2.3% of their total number), the bank began to purchase the shares of the metallurgical enterprises. The first company whose shares Privat received in exchange for certificates was the Dnipropetrovsk hardware plant. With the help of vouchers, Privat entered the capital and established operational control over the Nikopol Ferroalloy Plant, Pokrovsky (Ordzhonikidze) and Marganets GOKs.