Tigipko continues to acquire leasing companies

Sergey Tigipko

Sergey Tigipko

Serhiy Tigipko (read more about him: Serhiy Tigipko: Komsomol oligarch covers his tracks ), who previously acquired the company "First Ukrainian International Leasing Company" (PUMLK), has decided to add another leasing "satellite" to his business orbit. The businessman has agreed to purchase the company; it is already known that the parties have already agreed to the purchase, but the deal has not yet been closed. Media reports indicate that, according to information from the Ukrainian Association of Lessors, for the first nine months of 2016, the Ukrainian Leasing Fund (ULF) ranked second in terms of leasing portfolio size (UAH 2,82 billion) and in terms of "new business volume" (UAH 883,4 million).

 

But despite these impressive figures, a significant portion of the leasing company's reported assets are problematic. An unnamed source in the financial market reported: "Initially, ULF financed projects related to Russian business and worked closely with Vnesheconombank. Now these contracts are not being serviced. It's possible that only the 'good' portion of the portfolio was included in the deal, or that the entire portfolio was sold at a significant discount." However, this is unlikely to bother Tigipko: it is known that the PUMLK he purchased was practically idle, and its entire leasing portfolio was transferred to the balance sheet of TAScombank.

On the topic: Sergei Tigipko: Komsomol oligarch covers his tracks

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