IT distributor Action sells 51% stake in Ukrainian subsidiary

IT distributor Action has sold a 51% stake in subsidiary Action Ukraina to its other existing shareholder for USD 2mn.
“According to the agreement Action sold its whole stake in the capital of Action Ukraina. The stake came to 51% and the same number of votes on the AGM of Action Ukraina. The sale price was set at USD 2mn,” the official statement reads.
The stake was sold to the firm’s 49% shareholder, Britain’s Blue Mare.
In September, company CEO Piotr Bielinski said that Action was considering various scenarios in relation to the Ukrainian market, including pulling out entirely.
However, in October he said that Action will not abandon the country as he felt that the market in Ukraine was already over the worst.