22.05.03

J.P. Kenny acquires 100% of Poltava Gas Oil Company

J.P. Kenny Exploration and Production Ltd. the cofounder of Ukrainian-British joint venture Poltava Gas Oil Company, has acquired 33.8% of shares in the company, owned by the state, thereby increasing its stake to 100%.

The Ukrainian State Property Fund's press service told that the shares were sold for 5.34 million hryvna.

Poltava Gas Oil Company was set up in 1994 with a charter capital of $3.6 million. The company is the largest non-state oil company in Ukraine.

The official exchange rate on May 22 was 5.3331 hryvna to the dollar.