One of Ukraine’s major port assets — the Olimpex terminal in Odesa — has come under the control of U.S. investment funds Argentem Creek Partners and Innovatus Capital Partners, according to a Financial Times report citing sources in the Office of the President of Ukraine.
The transfer followed years of legal disputes. The Ukrainian businessmen who previously owned the terminal defaulted on $95 million in loans and illegally sold grain that had been pledged as collateral.
Following the arrest of one of the owners, Volodymyr Naumenko, on charges of fraud against creditors, the Supreme Court of Ukraine approved the transfer of the terminal to the U.S. investors.
Olimpex has an annual handling capacity of around 5 million tons, making it one of the largest terminals in the country.
