February 13, 2014

The chain of construction materials of the German group Praktiker has sold its Ukrainian stores to audit company Kreston Guarantee Group Ukraine in the interest of a private investor, according to "Kommersant-Ukraine" referring to the press service of the Praktiker Group.

The buyer of LLC "Praktiker Ukraine" (four stores in Kiev, Lviv, Mykolaiv and Makiyivka) is the auditing company Kreston Guarantee Group. The managing partner of Kreston Guarantee Group, Alexey Mechinsky, said that the transaction is made in the interests of a third party without specifying who it was, citing a confidentiality agreement. The web-site Kreston Guarantee Group Ukraine reports that among its clients there are such major companies as chains Metro C&C, "Kyivstar", "Ukraine International Airlines", and agriholding "Mriya". However, if we analyze the client list of Kreston GCG (http://kreston-gcg.com/ru/clients/), which is likely associated with Kreston Guarantee Group, there are many companies among its customers that are located in the eastern regions of Ukraine and are, in particular, controlled by businessmen Rinat Akhmetov and Dmytro Firtash.

At the same time, "Epicenter" and Leroy Merlin officially announced to "Kommersant Ukraine" that they are not related to the purchase of the chain stores Praktiker in Ukraine.

In July 2013, after unsuccessful negotiations with its creditors, Praktiker announced its insolvency, whereby bankruptcy proceedings were initiated. It was also stated that Praktiker desires to withdraw from the market of Ukraine by the end of 2013. In 2011, the loss of "Praktiker Ukraine" was UAH 53.1 million with the income of UAH 321.4 million. In the first half of 2012, the loss amounted to UAH 18.4 million, while the income – to UAH 159.4 million.

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