Ukrainian Magnate Firtash Buys Inter Media for $2.5 Billion

Ukrainian billionaire Dmitry Firtash bought Inter Media Group Ltd., which owns eight television stations, for $2.5 billion from ex-First Deputy Prime Minister Valeriy Khoroshkovskiy, who quit the government in December.

Firtash purchased 100 percent of Inter Media, whose holdings include Ukraine’s largest channel Inter TV, according to a statement published today on the company’s website. Ukraine’s competition regulator is yet to approve the deal, according to the statement.

Khoroshkovskiy resigned from his post because he disagreed with President Viktor Yanukovych’s decision to reappoint Mykola Azarov as premier. He sold his media company because “under the current conditions, I cannot secure the development of the Group,” he said in the statement.

Firtash is a co-owner of RosUkrEnergo AG, Ukraine’s previous sole importer of Russian natural gas, who controls his assets through Group DF. He is worth $3.2 billion, making him the fifth-richest Ukrainian, according to the Kiev-based news magazine Korrespondent.

Group DF has stakes in natural gas distribution, owns fertilizer plants in Ukraine, Estonia and Tajikistan, controls VAT Nadra bank, and has interests in agricultural and property businesses, according to its website.

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