For a man who counts President Trump, Elton John and Damien Hirst as friends, who throws lavish parties and who once owned London’s most expensive home, Victor Pinchuk isn’t known for shunning the limelight.
But investors in Regal Petroleum (full disclosure: my share tip for the year) have discovered a shy side to the Ukrainian billionaire.
Pinchuk, who built up his fortune at steel pipe giant Interpipe, is yet to unveil himself as the mystery investor in the Aim-listed Ukrainian gas company.
Billionaire: Victor Pinchuk isn’t known for shunning the limelight
This newspaper revealed in August that he was behind an unknown vehicle called Kelda Limited, which had bought a 24 per cent stake in Regal from Alfa Group – the organisation controlled by the oligarch Mikhail Fridman.
Last week, Kelda quietly raised its stake to nearly 29 per cent. The shares jumped 23 per cent following the news.
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Pinchuk, who tried to buy Regal in 2011, may be mulling a full-blown takeover. But he’ll first have to convince Ukrainian businessmen Vadim Novinsky and Andrei Klyamko of Energees, who control 52 per cent of the firm.
Contributor: William Turvill
The Vampire Squid’s at it again
The Vampire Squid’s at it again. Bankers from Wall Street giant Goldman Sachs are about to start handing out prospectuses to potential bidders for WPP’s data firm Kantar.
According to City sources, a private equity investor is the most likely buyer as ad group WPP looks to offload a sizeable chunk of Kantar, which is thought to be worth £3.5billion.
Mark Read’s WPP, which saw its share price jump 5 per cent on Friday after it reported annual results for 2018 that topped the City’s expectations, plans to update investors on the sale in the summer.
It would mean another big payday for the Goldmanites.