Viktor Pinchuk bought 50% of Geo Alliance Group from Vitol

Geo Alliance Group Limited, owned by companies controlled by businessman Viktor Pinchuk, has completed a deal to buy a 50% stake in Geo-Alliance Oil-Gas Public Limited from Arawak Energy Ukraine B.V., a subsidiary of international trader Vitol.

As a result of the agreement, Viktor Pinchuk (through Geo Alliance Group) became the owner of 100% of the shares of Geo-Alliance Oil-Gas Public Limited.

The cost of the agreement is not reported, the details of the agreement are limited by the confidentiality agreement.

"We are grateful for the strong working relationship we have had with our Ukrainian partner over the past nine years. We wish Geo Alliance Group success in the future," said Jonathan Marsh, a representative of Vitol.

“Throughout the 9 years, our partnership with Vitol has been productive and constructive. We are grateful to our partner for his support and contribution to the development of Geo Alliance Group" said Mykhailo Bilostotsky, a representative of Geo Alliance.

ExPro Reference

Geo-Alliance Oil-Gas Public Limited is a holding company of a group of companies operating in the oil and gas sector of Ukraine since 2004. Geo Alliance Group is one of the leading private companies in gas and gas condensate production, as well as a producer of liquefied gas (LPG) in Ukraine.

Geo Alliance`s production of natural gas in 2020 amounted to 203 million cubic meters, gas condensate 28.8 thousand tons.

Arawak Energy Ukraine B.V. is a subsidiary of the Vitol Group, the world's largest independent energy trader.

In August 2012, the Antimonopoly Committee of Ukraine allowed Arawak Energy Ukraine B.V. acquire more than 25% share in Geo-Alliance Oil-Gas Public Limited. In May 2017, Vitol increased its stake to 50%.

 

12:01 / 4 January 2022

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