Smart Holding Buys 10% Stake in Sumy Frunze, Kommersant Reports

LLC Smart Holding, owned by Ukrainian businessman Vadim Novinsky, bought a 10 percent stake in Sumy NVO Frunze OJSC, Kommersant-Ukraine newspaper reported, citing an unidentified official at Frunze.

Smart has the right to further increase its stake in the Ukrainian machinery producer for oil and gas industries to 40 percent, according to Kommersant.

To contact the reporter on this story: Kateryna Choursina in Kiev at

To contact the editor responsible for this story: James M. Gomez at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.