The US investment fund Siguler Guff & Company became the new shareholder of the private enterprise “Container Terminal Ilyichevsk” (CTI), declared press-service of CTI on February 25.
According to the announcement, the new investor indirectly owns 50% share in CTI. Management of the New York-based company intends to use its global expertise for developing production volumes of CTI as well as increasing container capacity of Ilyichevsk seaport.
“Despite the difficult economic situation in the country, we plan to continue developing and growing. CTI has already invested USD 56 million into the infrastructure of Ilyichevsk Commercial Sea Port and will continue improving the throughput of the terminal. The new partner’s stake in CTI will help us implement our plans,” - commented Andrey Pavlyutin, CEO of CTI.
Representatives of Siguler Guff & Company also consider their interest in CTI rather promising. Ukraine's economy will recover. There has been a significant political reboot and important reforms are being implemented. Rich in resources and boasting highly educated population of over 45 million, Ukraine presents new opportunities for the investment firm.
Note that together with Siguler Guff & Company, CTI is now owned by German forwarding company SRR Deutschland with 25% share in the company, and by CEO of CTI, a citizen of Ukraine Andrey Pavlyutin, who owns another 25%.