The DCH group of Aleksandr Yaroslavskyi officially announces the beginning of the process of acquiring an additional number of shares in PJSC Kharkiv Tractor Plant (KhTZ) in the amount of 29% of the charter capital. It is an equity stake which was intended to be formed by Siegfried Wolf, an Austrian investor, to achieve the target ownership structure, until recently. By agreement of the parties, the purchasing conditions of the stake are confidential.
As previously reported, Aleksandr Yaroslavskyi acquired controlling stake in KhTZ in April this year at the suggestion of Siegfried Wolf, who told the media, ‘Partnership with Aleksandr Yaroslavskyi will give a new impetus to the development of the plant. We have known each other for a long time. I know him as a man of his word. All business partners, including the foreign ones, speak very well of him. That is why I turned to him with an offer to become a shareholder of KhTZ again when there was a threat to my investments in Ukraine. http://www.ots.at/presseaussendung/OTE_20160427_OTE0008/ukraines-kharkiv-tractor-plant-announces-changes-in-shareholding-structure. Subsequently, a plan for the rehabilitation of the enterprise was adopted and approved. To implement the plan, the DCH group opened a credit line of UAH 400 million to KhTZ in order to replenish its working capital. Nowadays, the plant is carrying out a complex of reorganizational measures aimed at reviving the plant. A number of departments have started their work, economic ties with suppliers and partners are being restored.