The Project Company is a newly incorporated company in Ukraine (“NewCo”), which will be indirectly owned by NJJ (85%), fund managed by Horizon Capital (10%), and Mykhaylo Shelemba (5%).

NJJ is an investment holding company operating in the telecom sector and owned by Xavier Niel.

Horizon Capital is a private equity fund focused on investments in Emerging Europe.  It was founded in 2006 and has been investing in Ukraine for over 18 years.

Mykhaylo Shelemba is currently the CEO and minority-shareholder in Datagroup-Volia.

 IFC investment is expected to be up to $ 218 million.  The acquisition price of LC and DGV, comprising part of the total project cost, is commercially sensitive and cannot be disclosed at this stage.

LC and DGV are headquartered in Kyiv and operate in the territory of Ukraine.  

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability, given that the project is expected to have limited adverse E&S risks and/or impacts that are a few, site-specific, largely reversible, and readily addressed through mitigation measures, as described in the following sections.

Key E&S aspects associated with the project are: (i) corporate E&S management system (ESMS) and relevant procedures and plans to assess and manage the limited adverse E&S risks and impacts in line with IFC Performance Standards (PSs); (ii) E&S screening procedures for the development of new assets; (iii) labor and working conditions of company and contractors’ workers including occupational health and safety (OHS); (iv) emergency preparedness and response, including related to security incidents; (v) solid and hazardous wastes, hazardous material management, visual impacts, and electric and magnetic fields (EMF); (vi) community health and safety including infrastructure and transport safety; (vii) contractor management; (viii) security management; (ix) stakeholder engagement and grievance mechanism; and (x) biodiversity risks management.