Liovochkin to be minor shareholder in Inter Media Group, says Group DF
"I started to discuss the idea of purchasing Inter with Serhiy Liovochkin in 2006. At that time we discussed a deal for the first time with the owner of the channel. Talks consisting of several stages lasted for this entire period of time, and I am pleased that we achieved agreement on the closure of the transaction," the press service of Firtash said.
The major shareholder of Inter Media Group Limited will be the company of Firtash, reads the document.
According to the report, Liovochkin's company will transfer its stake in the TV group to the management of GDF Media Limited from Group DF, which will control 100% of Inter Media Group.
The transaction will be completed when relevant permits from the antimonopoly authorities are received, reads the press release.
As reported, the seller of Inter Media Group is the then First Vice Prime Minister Valeriy Khoroshkovsky, who explained this step as being due to the impossibility of ensuring the development of the group. According to the seller, the deal is based on the appraised value of $2.5 billion.
Firtash said he believes the TV industry in Ukraine is promising and sees his role in building an effective business.
"I am ready to do everything to ensure the development of the television group based on the best international standards," he said.
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