President Poroshenko starts re-registration of confectionery assets to his eldest son's name

November 7, 2019 (UNIAN) The fifth president of Ukraine, Petro Poroshenko, has started the process of re-registering confectionery assets to the name of his eldest son, Oleksiy Poroshenko. The change in the Central European Confectionery Company (CECC) beneficiary ownership was recorded in the open register of national public figures, the Anti-Corruption Action Center said. As of November 6, Oleksiy Poroshenko was listed as the CECC's beneficiary. The data is also confirmed by Ukraine's State Register of Legal Entities, Individual Entrepreneurs and NGOs. It states that control of the company was transferred to Oleksiy Poroshenko as a result of obtaining corporate rights of Dutch-registered Roshen Europe B. V., which owns an 85% stake in the CECC. Roshen did not deny the report, saying that only the beneficiaries knew about the reasons for the change of ownership, the Ukrainian media outlet Novoye Vremya said. 

The CECC is one of the key assets in the structure of Roshen Corporation and is the founder of a number of other enterprises. Simultaneously, there is a change in the beneficiary ownership of the following CECC-founded enterprises: LLC Roshen De Luxe, LLC CC Roshen, LLC Roshen-Volyn, LLC Roshen Svit, and others, which until recently had been declared by the fifth president. Petro Poroshenko remains the beneficiary of a number of other enterprises controlled by the CECC. As UNIAN reported earlier, Roshen Corporation, the largest confectionery manufacturer in Ukraine, reduced production at its factory in Lithuania and laid off two-thirds of workers.