ICU Group rejects ties with Russian official after Panama Paper leak

Tuesday, April 5, 2016 - 17:54 (EEST) Section: Latest news

ICU Group, which was owned by Valeriya Gontareva prior to her appointment as Governor of the National Bank of Ukraine (NBU), says it does not have any business relations with First Deputy President of Russian state-owned VTB Bank Yuri Soloviev.
This statement was issued in response to accusations that have appeared in the media following the Panama Papers leak.
According to the ICU, Cordova Management Limited company, owned by Soloviev`s wife, Galina Solovieva, became an investor of the [ICU] Group in 2010 and one of the founders of ICU Holdings Limited, the Group`s holding company.
”In the summer of 2014, Cordova Management Limited sold all its shares in ICU Holdings Limited. Earlier, Valeriya Gontareva, before her appointment as the NBU governor, sold her shares that she had owned in ICU Holdings Limited,” the ICU`s statement reads.
It is also reported that ICU Holdings Limited is currently owned by Makar Paseniuk and Konstantin Stetsenko each holding a 41.7995% share stake, as well as Energy Minister Volodymyr Demchyshyn, whose 9.9963% stake has been transferred to management, and Head of ICU Group`s analytical department Oleksandr Valchyshen, who holds 6.5847% of the shares.
The company emphasizes that the Group`s ownership structure is completely transparent, allowing the identification of all ultimate beneficial owners who together own 100% of the Group`s shares. The structure is available on the website of Avangard Bank, which belongs to ICU Group.
Previously, Gontareva also argued she did not have any business relations, including with Russian official Soloviev. She said her business was sold in 2014 following her appointment to the post of the NBU Governor.
As UaPosition reported earlier, some media reported on April 3, referring to confidential documents from a Panamanian law firm, specializing in the registration of offshore companies, that NBU`s chief banker Valeriya Gontareva was a business partner of Russian official and First Deputy President of Russian state-owned VTB Bank Yuri Soloviev.