ArcelorMittal Kryviy Rih will sell its LLC MS Social Project to Investment Capital Ukraine (ICU). MS Social Project LLC is a founder of the open and non-state pension fund with assets amounting to UAH 31mln (USD 1.1mln), as of September 15, according to the ICU press release. The number of participants of the pension fund stands at 30 000.
The deal is a part of the strategic plan for the development of non-government pension procurements, said Konstantin Stetsenko the managing director of the ICU group. The purchase will contribute to improvement in the management of the fund by optimizing costs and in faster investment decision making.
The ICU Group was established in 2006. The company provides securities trading services, investment banking services, and manages mutual funds. The group includes LLC Investment Capital Ukraine, asset management Investment Capital Ukraine, Avangard Bank, and Troika Dialog Ukraine asset management.
