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NewsRSSRothschild Trust confirms Poroshenko blind trust deed for Roshen
7 of April 2016 г.
Ukrainian President Petro Poroshenko has appointed Rothschild Trust as trustee in a blind trust to hold his shares in Roshen Confectionary Corporation.
"This follows over 12 months of extensive preparation. The relevant trust deed was signed on January 14, 2016," Rothschild Trust said, responding to a request of Interfax-Ukraine. "The trust has been modeled on international standards for politicians requiring trusts to hold their assets while they are in office," Rothschild said. Rothschild Trust said that as a matter of principle, the company never comments on individuals or client relationships, but on this occasion it has been authorized by its client to confirm this information. After the inauguration as president of Ukraine, Poroshenko stated his intention to sell all assets and hired for this purpose Rothschild and ICU investment companies. However, due to the lack of potential buyers on January 14, 2016, the president said he signed contract under which he transferred his stake in Roshen Corporation to an independent 'blind trust'. "What does this trust foresee? First of all, during my tenure as the president, neither I nor someone else can terminate this trust. Secondly, under the contract, neither my signature nor my orders have legal force. A respectable foreign bank of the first category will manage the trust, it will own, control and manage the assets," he told reporters at a press conference in January 2016. The president said that following Roshen, International Investment Bank where he holds 60% of shares will be transferred to the management of a trustee. FM-TV другие новости
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