Ukraine seeks to seize water company owned by billionaire family of British theatre mogul
Row centres on stake held by Patarkatsishvili family in bottled water firm it jointly owns with Russian oligarch A British theatre impresario and her billionaire family are embroiled in a bitter dispute with Ukrainian authorities seeking to seize a water company they jointly own with a Russian oligarch. The row centres on a 34% stake held in the producer of Ukraine’s biggest bottled water brands…
A bitter dispute has erupted between British theatre impresario Liana Patarkatsishvili and her billionaire family and Ukrainian authorities over a water company they jointly own with Russian oligarch Mikhail Fridman. The Patarkatsishvilis hold a 34% stake in the company, which produces Ukraine's biggest bottled water brands. Ukrainian regulators seized control of the company in 2022 due to the presence of a 49% Russian stake, including Fridman's.
The Ukrainian asset recovery and management agency (Arma) has been tasked with overseeing the company's operations and has encountered legal and bureaucratic hurdles, primarily due to the resistance of the shareholders to relinquish control. The agency has faced cyber-attacks during its efforts to appoint an independent manager, but there is no evidence linking the Patarkatsishvilis to these attacks.
The Patarkatsishvilis deny any wrongdoing, stating they have been staunch supporters of Ukraine since the Russian invasion in 2022. They claim they are being unfairly targeted and vow to seek justice in international courts if necessary. The shareholders are currently contesting nationalization attempts in the Ukrainian anti-corruption high court, viewing the company as a strategic asset during the ongoing conflict.
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