The Antimonopoly Committee of Ukraine (AMCU) has granted approval for Cemin Ukraine LLC, controlled by Azerbaijani conglomerate NEQSOL Holding, to acquire a controlling stake in United Mining and Chemical Company (UMCC). The transaction involves the direct purchase of shares representing over 50% of voting rights in UMCC’s governing body.
Volodymyr Lavrenchuk, NEQSOL Holding’s Regional Director in Ukraine, stated that the AMCU’s decision marks the completion of a key phase in one of the largest privatization deals carried out during wartime conditions in Ukraine.
“As a strategic investor, we will bring global business expertise to UMCC and transform it into a modern, globally competitive player in the titanium industry,” Lavrenchuk added.
NEQSOL plans to modernize operations, introduce new value-added products through advanced raw material processing, and expand the global footprint of UMCC’s offerings—all while adhering strictly to international sanctions.
NEQSOL Holding is an international business group operating in 11 countries and owns Ukraine’s second-largest mobile operator, VF Ukraine (Vodafone Ukraine brand). The holding is founded and owned by Azerbaijani national Nasib Hasanov.
UMCC ranks among the top ten global producers of titanium and zirconium ores and is the largest in Europe.
