Polish Energopol-Poludnie leaves Ukrainian market because of administrative obstacles

17:12

Energopol-Poludnie S.A. (Poland) has sold its subsidiary Energopol Road Ukraine Ltd. (Lutsk), the core business of which is construction, according to a Polish company statement on the Warsaw Stock Exchange.

SvetokosLtd. (Voronezh, Russia) bought the company. Svetokos performs meat wholesale and retail sales and is 100% owned by a Russian citizen.

A corresponding notarial act was formalized in Kyiv on March 12.

The statement reads that the sale of the company is linked to the fact that Ukrainian administrative bodies "paralyzed" its operations.

Energopol Road Ukraine was registered in 2007. Its core business is the construction of transport infrastructure objects and buildings.

The company's net profit in 2008 was UAH 575,800, while its net loss in 2007 reached UAH 2.19 million.

Energopol-Poludnie S.A. was established in 1968. Its core business is the construction of transport infrastructure objects and buildings mainly in Poland.