Eavex Capital Announces Details of New Investment and Re-launch

June 16, 2010
 


Sincome Capital, a pioneer in the capital markets of Ukraine since 1994, has announced the details of the sale of a minority stake in the company and their re-launch as Eavex Capital. In a press conference in Kiev on June 2, 2010, Chairman of the Board and CEO of Eavex Capital Yuriy Yakovenko released details of Accuro Group’s purchase of a 10% stake in the company with a one year option to purchase an additional 10%, as well as the factors that led the company to re-launch as Eavex Capital.


“We are very pleased with the entrance of Accuro Group as a minority investor in Eavex Capital, a move which not only has strengthened our financial resources ahead of the expansion strategy already under way, but also has provided us with an even higher standard of transparency, professionalism and international best practices,” Mr. Yakovenko noted.


Roger Zullinger, CEO of Accuro Group, further commented, “In our experience investing in Ukraine since 1996, the Sincome team proved its high professionalism and transparency in the client-broker relationship. In Ukraine we see many intereseting sectors for invetsment, but one of the most attractive is in financial services. This is why we believe that our acquisition of a minority position in Eavex Capital will be a profitable addition to our existing portfolio of Ukrainian financial investments."


Eavex Capital presented additional detail on the evolution of the company over the last several months and the reasons behind the re-launch of the 15 year old broker. “The effects of the global financial crisis were substantial for all in the industry. In our case, they were positive. Prior to the onset of the crisis, we entered a defensive position and recommended the same to our clients. This created a major opportunity to expand as the crisis took hold and overexposed players capitulated,” commented Head of Strategy Arthur McCallum. “At the corporate level, we struck while the crisis iron was hot. We have been fortunate to add real depth in our team across business lines, bring internal processes to a new level of professionalism and develop a strategy of expansion into new markets and new products. These improvements together with the new investment build on the solid foundation of Sincome Capital.”


Eavex Capital is the expansion of the deep knowledge of one of Ukraine’s most experienced full-service investment houses to a global scale.