The Istil group of companies has concentrated 45% of Kyiv-based group Poverkhnost, an informed source close to the deal told Ukrainian News.
The source specified that, particularly, Istil obtained on December 1 last year 5% of Poverkhnost, having this increased its stake in that group to 45%.
Beside that, the source says, Istil will get 10% of Poverkhnost more before the end of March, to have brought its shareholding in the group to 55%.
Istil’s investments were targeted at the promotion of the Poverkhnost Plus satellite television operation, purchase of equipment required for its operation, and buy of exclusive rights to broadcasting the Champions League, the UEFA Europe League and other international sportive events in the territory of Ukraine.
Apart from this, a part of the funds was used for the purchase of mobile satellite HD station of the Sony firm, which is the only and unique in Ukraine, and enables the company to occupy the market segment for shooting in the HD quality.
As Ukrainian News reported, in August 2009 the Istil group of companies acquired 40% in the Poverkhnost group with the option for the controlling shareholding (to 55%).
The investments into the Poverkhnost group were about USD 60 million.
In early 2008, Istil completely left the metallurgical business (the Istil Ukraine mini steel mill in Donetsk and rolling mills in Great Britain and the United States). It now engages in realization of projects in the construction sector and the media business.
The Poverkhnost group of companies consists of a television company that owns the Sport 1, Sport 2 and Planet Sport Ukraine channels; a digital satellite television company with the SNG station; and a national satellite operator based on a transmission center that runs via Eutelsat W4.
