AMCU allowed the "Cascade-Invest" fund to take control over the pharmaceutical company "Biocon"

AMCU allowed the "Cascade-Invest" fund to take control over the pharmaceutical company "Biocon"

The closed non-diversified corporate investment fund “Cascade-Invest” received consent to gain control over LLC "CPC ’Biocon’".

The Antimonopoly Committee of Ukraine granted the relevant permission.

Applications and cases for granting permission for concentration and the coordination of business entities’ actions were considered.

What is known about CPC “Biocon”?

CPC “Biocon” is a company that was founded in 1997. According to YouControl, the main type of activity of the company is warehousing, as well as the production of pharmaceutical products and materials.

Photo: Biocon

The ultimate beneficiary of the company is Oleksandr Yavorskyi. According to Opendatabot, he also owns 6 more companies, specializing, in particular, in the wholesale trade of medical products, real estate sales, construction, etc.

What is known about “Cascade-Invest”?

The company that received permission to acquire "Biocon" was registered in 2008. The ultimate beneficial owner is listed as former Member of Parliament Vitaliy Khomutynnik.

He was a figure in a tax evasion case. According to journalistic investigations, Khomutynnik was accused of illegal land seizures, voter bribery, financial manipulations, etc.

The connection between “Biocon” and “Cascade-Invest”

According to the journalists of “Economic Truth,” in 2014, the president of the group of companies “Biocon” Oleksandr Yavorskyi helped MP Khomutynnik withdraw a deposit from Brokbusinessbank right before its bankruptcy using questionable operations. Similarly, funds were also withdrawn for “Cascade-Invest”.

In 2016, the president of the company “Biocon” also transferred over 1.3 million in financial aid to the Member of Parliament.

After that, the declaration was checked by the NACP and NABU, but no violations were found.