20:47 GMT +311 December 2019
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    Roshen chocolate

    Poroshenko Triples Asking Price in Roshen Sale

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    One of the world's largest confectionery companies, Nestle, is mulling the purchase of the Roshen confectionery company owned by Ukrainian President Petro Poroshenko for $1 billion dollars.

    However, the price Roshen’s owner wants is three times higher than expected.

    “Roshen has been estimated by its owners to be worth about $3 billion. But the only potential buyer showing interest in the Ukrainian asset is Nestle SA, which  is ready to pay no more than $1 billion," Bloomberg said.

    Last year Roshen’s Kiev and Kremenchug factories saw their net profit shrinking 40 percent and 24 percent correspondingly. Even though the Vinnitsa facility registered a 5 percent rise, its real term profit ended up more than 100 percent down.

    The Mariupol factory was shuttered last year and the property of the Roshen factory in Russia’s Lipetsk, estimated at 2 billion rubles, was confiscated by the Russian Investigative Committee, acting on a pertinent court order, Vesti.ua reported.

    Roshen’s dairy factory in Vinnytsa, which posted a 20 percent income rise last year, remains the company’s only profit-making facility.

    Roshen has factories also in Lithuania and Hungary, but their share in the company’s overall production is insignificant.

    Related:

    Promises, Promises: Poroshenko Still a Businessman and Billionaire
    Not So Sweet Deal: Poroshenko Accuses Russia of Meddling in Sale of Roshen
    Tags:
    overpricing, sale, Roshen, Petro Poroshenko, Ukraine
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