Hamburger Hafen und Logistik AG (HHLA) is purchasing 60% of the shares of Intermodal Terminal Eurobridge LLC in Batiovo, western Ukraine.
This was reported by CTS citing NDR.
The terminal will operate under the name HHLA Eurobridge Batiovo as a joint venture between HHLA International GmbH and the Ukrainian investment company Fortior Capital LLC.
“HHLA has been operating in Ukraine for over 20 years. Ukraine remains an important growth market with great potential for intermodal freight transport. Our goal is to create a strong intermodal corridor between the EU and Ukraine, thereby promoting economic integration,” said HHLA CEO Angela Titzrat.”
HHLA will acquire a controlling stake and continue to develop the terminal together with its rail subsidiary METRANS.
“The Eurobridge terminal is currently undergoing a large-scale modernization — transforming the bulk cargo terminal into an intermodal hub for container transport. Container operations are planned for Q4 2025,” added Philip Swins, Managing Director of HHLA International GmbH.”
HHLA Eurobridge Batiovo is located near the EU border at the intersection of international rail corridors, making it an important hub for freight traffic between Ukraine, Hungary, and Slovakia.
Minister of Economy Yulia Svyrydenko explained how the Investment Fund will work within the framework of the “minerals agreement” between Ukraine and the United States.
Svyrydenko and members of the negotiating team that worked on the agreement spoke about this in an interview with RBC-Ukraine.
According to Svyrydenko, over the next 10 years, the Fund will invest in Ukraine in projects related to critical materials, oil, gas, as well as infrastructure (ports and terminals).
In Washington, Yulia Svyrydenko signed one agreement – on the establishment of the Fund. It is this one that is to be ratified on Thursday, May 8. The remaining agreements will be of a commercial nature and will no longer be signed by the government. The signatory on the Ukrainian side is the Agency for the Support of Public-Private Partnerships (PPP), on the US side – the International Development Finance Corporation (DFC).
The document provides for the distribution of profits only after 10 years, until then – only investments and only in Ukraine. At the time of signing, the shares in the Fund in Ukraine and the United States are the same – 50/50. Further, there is an opportunity to make additional contributions.
On April 30, Ukraine and the United States signed an agreement on economic cooperation, which provides for the creation of an investment Fund. To launch it, it will be necessary to sign two more documents, the drafts of which are still being prepared. As early as May 8, the text of the agreement is expected to be ratified by the Verkhovna Rada.
On February 12 in Bern, the Swiss Federal Council approved the Program of Cooperation with Ukraine for 2025-2028. It will be the first stage of long-term 12-year support for Ukraine in reconstruction, reforms, and sustainable development. In the framework of such a program, 1.5 billion CHF will be allocated for economic recovery, protection of the civilian population, and strengthening institutions.
Yuliia Svyrydenko, First Deputy Prime Minister & Minister of Economy of Ukraine, noted, “Swiss government declared its readiness for long-term support for Ukraine back in April 2024, announcing the allocation of 5 billion francs over the next 12 years. The approved Support Program for 2025-2028 is just the first stage of the implementation of intergovernmental agreements. During 2029-2036, the Swiss party will provide more than 3.5 billion francs for Ukraine”.
The cooperation program between Switzerland and Ukraine for 2025-2028 focuses on three main areas:
Economic recovery, which includes support for small and medium enterprises (SMEs), agricultural development, and infrastructure reconstruction, in particular in regions affected by hostilities.
Modernization of public services, including healthcare and education systems, development of public transport, power and water supply systems.
Protection of the civilian population, which includes humanitarian demining, documentation of war crimes, assistance in searching for missing persons, and strengthening human rights mechanisms.
In order to launch successfully the Program, Switzerland will cooperate with Ukrainian state authorities, the private sector, scientific institutions, and public organizations. It is planned that a third of the Program’s budget – ca. 500 million CHF – will be directed to the reconstruction of Ukraine in cooperation with Swiss companies. At the World Economic Forum in Davos, Ukraine, and Switzerland signed a Memorandum on the first 50 million CHF that Switzerland will allocate to its companies in order to support projects in Ukraine. Bids from business entities are currently being accepted. Implementation of selected projects is planned for July 2025.
Click here for details on the acceptance of proposals for reconstruction projects in Ukraine.
NJJ Holding (“NJJ”), the investment firm founded and owned by Xavier Niel, the founder of leading European telco group iliad, obtained regulatory approval in March 2024 to acquire Datagroup-Volia, Ukraine’s leading fixed telecom and pay TV provider
Datagroup-Volia is 96.13% owned by a fund managed by U.S. private equity firm Horizon Capital, led by Lenna Koszarny, and 3.87% by Datagroup-Volia CEO Mykhaylo Shelemba.
Once the transaction has closed, the consortium led by NJJ intends to merge Datagroup-Volia with Lifecell, the country’s #3 and fastest-growing mobile operator. This would take place after regulatory approvals are obtained, resulting in 100% ownership of these Ukraine-domiciled assets.
The group plans to launch a significant investment program upon the completion of the transaction in Ukraine, with investments in network, licenses, equipment and expansion of fixed and mobile infrastructure in the country to accelerate future growth.
Post-closing, a fund managed by Horizon Capital and Mykhaylo Shelemba will invest in the combined entity to retain a minority position and be the local partner of NJJ in Ukraine.
The combined Datagroup-Volia-Lifecell entity will be led by Mykhaylo Shelemba, current Datagroup CEO, as Group CEO. Pierre Danon, Chair of the Supervisory Board, Datagroup-Volia, will serve in the same capacity for the merged entity.
This historic transaction is the first major investment by a new market entrant since the full-fledged invasion, as well as a significant investment in domestic infrastructure in Ukraine.
It is a landmark deal aimed at acquiring existing Ukraine-based telecom players and subsequently combining these into a platform for expansion, growth and investment, demonstrating that Ukraine can attract high quality investments regardless of the prevailing situation.
Transaction closing is subject to remaining regulatory approvals and other customary closing conditions.
NJJ, the investment firm founded and fully-owned by French tech and telecoms entrepreneur Xavier Niel, and Horizon Capital, led by Lenna Koszarny, a U.S. private equity firm investing primarily in fast-growing tech companies in Ukraine and Moldova via dedicated funds, and Mykhaylo Shelemba, Datagroup-Volia CEO and shareholder (together, the “parties”), have announced that regulatory approvals were granted in March 2024 for NJJ to acquire Datagroup–Volia, Ukraine’s leading fixed connectivity and pay TV provider. Once remaining conditions are met for the acquisition of mobile assets in Ukraine, trading under the Lifecell brand, the parties intend to create a national telecom champion, with the highest growth profile among peers, and the “operator of choice” for safe, secure and reliable telecom services in Ukraine.
The combined entity will provide mobile connectivity to nearly 10 million Ukrainians, while its fixed network will cover more than 4 million residences across Ukraine. The merger of Datagroup-Volia and Lifecell will also enable consumers to benefit from a triple play offer, bundling mobile, fixed connectivity and pay TV, improving quality of service, pricing and furthering the integration of European standards.
Xavier Niel, Founder of NJJ Holding, said: “I am pleased that we have achieved this major milestone with the regulatory approval for the acquisition of Datagroup-Volia, a significant step towards the creation of a national Ukrainian telecom champion, providing Ukrainians with safe, secure and reliable telecom services. Ukraine is home to an impressive tech sector with innovation in artificial intelligence, a high degree of digitalization and technological affinity. We are confident that our landmark transaction will serve as a signal to others that the time to invest in Ukraine is now, to support the rebuilding of the country and realize its potential. We look forward to working in the country and we are confident that our global telecoms activities, dedicated team and sector expertise, from France to Poland, from Italy to Sweden and the Baltics, will bring value to all stakeholders, including employees and customers, and to Ukraine as we work together to further develop the telecom offering, tech, artificial intelligence and other strategic areas of cooperation.”
Lenna Koszarny, Founding Partner and CEO of Horizon Capital, added: “We are delighted to attract Xavier Niel and NJJ to Ukraine, paving the way for a significant investment by a high-quality Western strategic in Ukraine’s infrastructure sector during historic times. Horizon Capital’s journey began in 2010 with the acquisition of a minority stake in Datagroup, then took a bold leap forward in 2016 after acquiring majority control. People make the difference at Horizon Capital and this deal is no exception. Attracting Mykhaylo Shelemba from McKinsey Dubai, recruited by Dmytro Boroday, Partner and beating out 17 candidates to assume the helm as Datagroup CEO in 2016, was truly game-changing. Under Mykhaylo’s leadership, Datagroup increased revenues 3.8 times and EBITDA 4.8 times in USD terms over five years, underpinning our confidence to raise our ownership to over 96%, and together with Mykhaylo Shelemba, fully control Datagroup’s destiny. Our vision to pursue a triple play, bringing fixed, pay TV and mobile together, was born in 2018 with the first meetings with Volia and Lifecell, and inspired by Xavier Niel, who is renowned as the French pioneer and visionary who over 20 years ago invented the Freebox – the world’s first triple-play box – bringing Internet to many households and mobile usage within reach. We completed the acquisition of Volia in June 2021, followed by a historic meeting with Xavier Niel and his team in Paris in December 2021, that has now culminated in this landmark transaction. To lead a deal of this magnitude and importance is the honor of a lifetime, and we are truly grateful to Xavier Niel and the NJJ team for their trust and partnership, and to the Datagroup-Volia and Lifecell leadership and teams for their excellence. We look forward to partnering with Xavier Niel and NJJ in the future, and are confident that this transaction will serve as a critical market signal, attracting new investments into Ukraine’s infrastructure and technology sectors and contributing to the country’s ongoing resilience, digitalization and growth.”
Mykhaylo Shelemba, CEO of Datagroup-Volia, added: “The merger of Datagroup-Volia and Lifecell will create a new champion in Ukraine’s telecom industry, combining two stellar assets with vast synergy potential. Expansion of the triple-play offering is expected to result in clear, tangible benefits for consumers in cost, convenience, and quality of service. Mutual integration of customer bases, improvements in cost-efficiency and business processes, as well as strengthening of network investment will allow us to offer even more attractive and competitive packages to our subscribers than both companies were able to provide on a standalone basis. This opportunity is only made possible through the bravery of Ukraine’s courageous defenders, protecting the country at this pivotal time, and the over 5,000 talented and dedicated management team and employees of Datagroup-Volia and Lifecell, who have demonstrated the utmost resilience and commitment to continuing to deliver high-quality services to Ukrainians every day, despite challenging circumstances. I thank Horizon Capital for their vision, trust and backing for the past eight years and look forward to embarking on this new, exciting chapter led by Xavier Niel and NJJ, undoubtedly one of the most visionary, experienced and trailblazing telecom investors globally. We are confident that this deal will start a new page in Ukraine’s telecom market and inspire others considering investing in Ukraine.”
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About NJJ Holding
NJJ Holding is the personal investment vehicle of Xavier Niel, a recognised entrepreneur and major long-term investor in the telecoms sector across the world.
He is also the owner of Iliad founded in 2002, which revolutionized the telecom market in France, ensuring that French consumers enjoy some of the lowest broadband rates in the developed world with its “Freebox”. In 2012, he launched Free Mobile offering no-strings-attached SIM card services. Iliad now being a leading telecoms provider present in France, Italy and Poland.
Overall, Xavier Niel has telecoms investments in more than 20 countries across the world, delivering mobile services to over a hundred million subscribers.
About Horizon Capital
Horizon Capital is the leading private equity firm in Emerging Europe with $1.6 billion in assets under management, from investors with a capital base of over $700 billion, raising over $800 million in growth capital in six years, including its latest fund, $350 million Horizon Capital Growth Fund IV, L.P. The firm’s investment strategy focuses on backing visionary entrepreneurs leading fast-growing, primarily tech and export-oriented businesses in Ukraine and Moldova. Horizon Capital-managed funds have invested in over 172 companies employing more than 80,000 people. Horizon Capital’s investment in Datagroup-Volia is held by Horizon Capital Growth Fund II, L.P.
About Datagroup – Volia
Datagroup and Volia is the national fixed line leader across key customer segments – B2C, B2B, and wholesale. The Company’s network covers over 4 million Ukrainian households in more than 100 cities, with over 35,000 kilometers of fiber infrastructure making it one of the largest networks in the country. The Company also offers a broad portfolio of value-add services to its clients, including cloud and cybersecurity for B2B customers, and IoT and OTT solutions for retail customers. With more than 2,000 institutional clients, the group is also a key partner of the public sector, collaborating with state bodies and agencies in the fields of finance, defense, and communications.
The German company Knauf has begun constructing a new plant in Ukraine to produce plasterboard and dry building mixes. The enterprise will be in the town of Borshchiv in the Ternopil region. The second plant has a designed capacity that will produce 30 million square meters of plasterboard and 320,000 tons of dry mixes annually. Total project investment will amount to €150M.
The first Knauf plant was built in the Kyiv region in 2006 and has operated there since. The Kyiv plant’s production capacity is about 25 million square meters of plasterboard and 200,000 tons of dry mixes. The Kyiv plant employs 425 workers, with almost half having moved from Russian-occupied Soledar in the Donbas.
The second plant in Borshchiv is home to Knauf’s main raw material base in Ukraine – a gypsum quarry, with explored reserves that will last for at least 20 years of operation.
It is noted that the company first officially announced the suspension of any investments in Russia and then its final withdrawal from the aggressor state’s market.
On April 22, 2025, Poland launched a state concessional lending program “Loan to Participate in the Reconstruction of Ukraine”. The program will provide at least PLN 250 million or approximately EUR 58.25 million for Polish companies investing and implementing business projects in Ukraine.
Under the terms of the program, the maximum loan amount per company is PLN 10 million (EUR 2.33 million), the interest rate is 2%, and the maturity is 12 years. Three partner companies of the Polish Bank Gospodarstwa Krajowego have started accepting applications.
“We are sincerely grateful to Poland for supporting businesses that are ready to participate in the reconstruction of Ukraine and invest in our economy. Thanks to the state program “Loan to Participate in the Reconstruction of Ukraine”, Polish companies will receive preferential funds to invest in the recovery of Ukrainian infrastructure. These funds can also be used for services related to the preparation of feasibility studies or investment projects, organization of logistics and development of bilateral trade. This is an important contribution to our recovery, as it will be based on the private sector,” said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.
According to the terms of the program, concessional loans can be used for investments and working capital expenditures to support the reconstruction of the Ukrainian economy, development of exports and imports and cooperation between Ukrainian and Polish enterprises.
The funds can be used for the following:
transportation, storage and logistics of goods and services for the population and construction materials, equipment, technologies and other resources necessary for the project implementation;
development of enterprise resources in order to participate in the reconstruction and improvement of Ukraine’s infrastructure (including roads, railways, energy, water supply, public and residential construction);
preparation of feasibility studies, research and investment projects;
financing the activities of medical companies, including the manufacturing of products such as prostheses and bandages intended for Ukraine;
importing services and products from counterparties from Ukraine;
providing goods and services to companies involved in the reconstruction of the Ukrainian economy, directly supporting their activities.
In addition, concessional lending can be used to finance the purchase of real estate in Poland if it is closely related to the purpose of the investment, e.g. construction of a warehouse, factory, workshop or plant. Additional preferences are available for certain industries and investments.
Background Information
The Bank Gospodarstwa Krajowego is the administrator of the state program of preferential lending “Loan to Participate in the Reconstruction of Ukraine”. It implements the program together with three financial partners:
Bank Ochrony Środowiska SA;
Society for Social and Economic Investments SA;
Consortium: Lublin Development Foundation and Biłgoraj Regional Development Agency SA.
The plan to restore the Ukrainian maritime industry includes a 600 million EUR package and assistance for Grain from Ukraine, as reported by Vladimir Svet, the Minister of Infrastructure of Estonia, in an interview with Ukrinform.
He noted the plan for the restoration of the maritime industry provided for the Ukrainian infrastructure protection during the war. It also includes a package amounting to ca. 600 million EUR.
Mr. Svet noted also that infrastructure will be required when Ukraine wins and begins a large-scale recovery process, while the companies worldwide start using such infrastructure.
The first part of the plan addresses the biggest needs of the Ukrainian fleet and maritime industry. Such assistance includes a package amounting to ca. 600 million EUR, divided between what the Navy needs and dual-use needs. A share for the Navy makes up nearly 25%, as these are the most urgent requests for operations at sea.
From the civil aspect, the plan focuses on Ukrainian trade support, first of all, concerning the initiative Grain from Ukraine.
Mr. Svet added, “We also want to help increase the potential of your ports, as you receive large volumes of goods, cargo, and energy”.
Previously, USM reported that Ukraine and Estonia discussed a plan to restore port infrastructure.
International finance package of €157 million for private wind project to boost Ukraine’s energy security
Project is co-financed by European Bank for Reconstruction and Development, International Finance Corporation, and Black Sea Trade and Development Bank
The European Union (EU), the United Kingdom, and CIF’s Clean Technology Fund (CTF) supported the mobilization of the finance package
Deal marks a pivotal step in advancing Ukraine’s shift towards renewable energy
An international finance package will bring €157 million of project finance debt to a private wind power project that aims to boost Ukraine’s energy security. The deal, announced today in Kyiv, is co-financed by the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC) and Black Sea Trade and Development Bank (BSTDB) and supported by the European Union (EU), the United Kingdom, and CIF’s Clean Technology Fund (CTF).
One of the first greenfield private projects in Ukraine’s power sector since the beginning of Russia’s invasion of Ukraine in 2022, this project forms part of efforts to advance Ukraine’s shift towards renewable energy generation as well as bolster its energy security following attacks from Russia on the country’s energy generation infrastructure.
The EBRD and IFC will each lend €60 million and BSTDB €37 million. The total cost of the project is estimated at €225 million (excluding VAT), with the rest to be met by equity from the project sponsor, GNG Group or Galnaftogaz, widely known in Ukraine as OKKO Group. The loans are to Wind Power GSI Volyn LLC and Wind Power GSI Volyn 3 LLC, special purpose vehicles incorporated in Ukraine.
The loans will support OKKO to construct and operate wind power plants in Ukraine with a combined capacity of 147 MW. The plants are expected to generate at least 380 GWh of renewable zero carbon electricity annually, resulting in carbon dioxide emission savings of approximately 245,000 tons per year.
The EBRD’s funding will be backed by financial guarantees from the European Union provided under its Ukraine facility, the Ukraine Investment Framework. This comes from the Ukraine Investment Framework Hi-Bar guarantee programme, which supports both new and existing climate mitigation technologies, in particular in the energy sector, in line with the EU’s detailed Ukraine Plan.
IFC and BSTDB’s loans are backed by guarantees from the European Union under the Ukraine Investment Framework as part of IFC’s Better Futures Program: RE-Ukraine. The United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) provided grant funding as a first loss guarantee to enable the mobilization of IFC and BSTDB’s loans. IFC’s funding package also includes €10 million in debt financing from CTF and was enabled by pre-investment work through which IFC helped optimize the project structure in a highly volatile market environment. This was possible thanks to support from Austria’s Federal Ministry of Finance and the Swiss State Secretariat for Economic Affairs SECO.
“We are grateful to our partners for their long-term, sustainable cooperation, which is especially valuable during wartime — for both business and the country as a whole. This project addresses several key challenges at once. Firstly, it strengthens the country’s energy security and independence. Secondly, it advances the transition to zero-emission electricity production,” said OKKO Chief Executive Officer Vasyl Danyliak.
“With significant power generation capacity in Ukraine destroyed as a result of the war, this investment is crucial to address the severe current energy shortfall, support Ukraine’s decarbonisation goals and boost the private sector’s role in further development of the renewable energy sector in the country,” said Matteo Patrone, the EBRD’s Vice President, Banking.
Ines Rocha, IFC’s Regional Director for Europe, said: “This project will ensure that people can keep the lights on, stay warm and connected – therefore marking a significant milestone in Ukraine’s recovery. While paving the way for a more resilient Ukraine, this transaction also sends a clear signal about the country’s readiness for private investment and ability to meet the challenges of tomorrow.”
“Ukraine’s energy sector has faced unprecedented challenges due to the ongoing crisis, making the diversification and resilience of its power infrastructure more critical than ever. Supporting projects that strengthen the country’s energy independence and accelerate its transition to renewable energy is a priority for BSTDB. This wind power project is a tangible step toward building a sustainable energy future for Ukraine. We are proud to stand alongside our development partners in mobilizing essential resources, enabling investments that will help restore and stabilize Ukraine’s energy supply while fostering long-term economic recovery and environmental sustainability,” said Dr Serhat Köksal, BSTDB President.
“This is a smart investment at a critical time. It boosts Ukraine’s energy security and supports its shift to renewables. The EU is glad to help make it happen,” said Stefan Schleuning, Head of Cooperation at the EU Delegation to Ukraine.
Martin Harris, British Ambassador to Ukraine, said: “I’m delighted that £3.8 million in UK grant funding has helped unlock this wind farm project, which has the capacity to power the equivalent of up to 80,000 homes. The UK stands firmly behind Ukraine’s green recovery. These sustainable energy solutions not only help Ukraine withstand Russia’s attacks on the energy grid but also build a more sustainable future economy. It’s encouraging to see Ukrainian businesses diversifying their energy sources with cleaner, modern technologies. This strengthens Ukraine’s entire energy sector – a key priority behind the 100-Year Partnership Agreement that Prime Minister Keir Starmer and President Volodymyr Zelenskyy signed earlier this year.”
The EBRD and IFC have been supporting OKKO Group, their client since 2005, to move forward with the decarbonization strategy it is pursuing against the backdrop of Russia’s war on Ukraine, as it prepares for Ukraine’s integration into the European Union and a future net-zero economy.
Energy is a priority for the World Bank Group in Ukraine. The World Bank, IFC, and MIGA have been working closely on complementary public and private sector interventions to meet both the country’s short-term imperatives, including restoring essential infrastructure and procuring equipment, and longer-term needs.
Since February 2022, IFC has delivered $2.2 billion to support Ukraine’s private sector, including $760 million in mobilization, through its Economic Resilience Action (ERA) Program for Ukraine. The support is part of the World Bank Group’s response package, which has assisted more than 15 million Ukrainians by helping businesses stay afloat and enabling the government to provide essential services, pay wages, keep schools and hospitals open, and make critical repairs.
Last year citizens of 78 countries launched business in Ukraine. Most often, companies were registered by citizens of the following countries:
– Turkey – 201 business entities
– Poland – 90 business entities
– the United States – 89 business entities
Almost half of new foreign companies (542) are located in Kyiv. Other popular regions are Lviv Region (137 companies) and Odesa Region (122 companies).
In addition, the registered companies include those having ties to well-known Ukrainian financial & industrial groups, such as Ombry Electrical Energy Co. Limited – a company owned by a citizen of Greece but being the Liovochkin family group member. Also, AP Bioenergy Complex is owned by citizens of the US and Austria but is related to AVEC concern (Feldman’s group).
First and foremost, project financing or syndicated loans, where several banks work together, will be in demand.
Dmytro Tsapenko, Deputy Chairman of the Board, Head of Ukrsibbank Corporate Business Department, expressed such an opinion in an interview for the annual rating of 25 Leading Banks of Ukraine.
The top manager explained, “Reconstruction will require for involvement of companies from various sectors: construction, building material production, metalworking, etc. These companies use a standard set of loan products: working capital financing, trade, medium-term financing, etc.”.
However, in the future large projects will require long-term financing, such as project financing or syndicated loans, where several banks will cooperate.
Mr. Tsapenko adds, “Now we already have requests for projects being on the verge of project financing and regular financing for large corporate clients. The Ukrainian banking sector has excess liquidity both in UAH and in foreign currency. Therefore, the problem lies in the willingness of banks to take risks”.
To mitigate such risks, banks use distribution programs from international financial organizations, primarily the EBRD. The banker explained, “This allows us to grant loans in favor of clients and projects for which we would not be ready to take risks on our own”.
