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Kharkiv tractor plant changes hands

The seller names pressure from the Security Service of Ukraine (SBU) as the reason.

Kharkiv tractor plant changes hands
Photo: ecotown.com.ua

DCH Group owner Oleksandr Yaroslavskyy bought a controlling interest in the Kharkiv tractor plant on 27 April, DCH's press service has said.

Yaroslavskyy accepted the proposal of Austrian businessman Siegfried Wolf, the plant's investor. However, Wolf is only a nominal owner of the company being under control of Russian oligarch Oleg Deripaska.

Wolf said in a press release that his decision to sell was due to the pressure from Ukrainian law enforcers.

"Ukrainian Security Service and its Kharkiv branch carried out four searches at XTZ [Kharkiv tractor plant] during March 21-April 8, 2016 seizing financial and other crucial documents," the statement reads.

Deripaska bought the plant from Yaroslavskyy in 2007.

Founded in 1930, the plant produces dozens of tractor and special equipment models, mostly used in agriculture, utility services and construction.