NEQSOL Holding finalizes payment for Ukraine’s UMCC
18 November 2024

NEQSOL Holding, an international group of companies with operations across 11 countries and headquarters in Amsterdam, Baku, and Kyiv, has completed payment for the Joint Stock Company “United Mining and Chemical Company” (UMCC). Proceeds from the sale have been transferred to the Ukrainian State Budget, as confirmed by the State Property Fund of Ukraine.

Last month, NEQSOL Holding’s subsidiary, CEMIN Ukraine LLC, won the auction for UMCC by offering 3.938 billion UAH (USD 95.6 million) for the government’s 100 percent stake in UMCC.

“With the acquisition of UMCC Titanium, NEQSOL Holding is making a strategic entry into the global titanium industry,” said Yusif Jabbarov, Chairman of the Board of NEQSOL Holding.

“We are strengthening our position as a global investment group, while reaffirming our commitment to Ukraine. As a strategic investor, we have already initiated discussions with several well-known international specialist companies in order to bring in world-leading titanium market, business and operational excellence expertise to UMCC. This includes fulfilling all privatization obligations, implementing extensive modernization, and expanding UMCC’s presence in global markets in accordance with strict compliance to global controls in critical raw materials industries,” added Jabbarov.

NEQSOL Holding financed the UMCC acquisition with its own capital and plans to attract international financing for further transformation of UMCC’s strategy, delivery and global operations. As an official global Synergy partner of COP29’s UN Climate Change Conference, and in alignment with its ESG commitments, NEQSOL Holding will place significant emphasis on environmental considerations in all post-acquisition activities of UMCC.