OREANDA-NEWS. Dragon Capital Investments Limited has sold a controlling stake in Private JSC Nova Linia to PJSC Oferent, part of the Epicenter group of companies. The parties do not comment on the terms of the transaction, citing confidentiality.

An extraordinary general meeting of PJSC Nova Linia has elected a new Supervisory Board and approved new corporate charter and internal documents.

The company's executive team is also being reshuffled, with Boris Artari-Kolumb replacing Yevhen Baranov as CEO as of November 1, 2013.

“We are satisfied with the performance of our investment in Nova Linia,” said Dragon Capital Managing Director Tomas Fiala. “During the 12 years of our involvement, Nova Linia has steadily expanded and achieved its goals, be it in times of rapid market growth or downturn. At this stage, we have come to the conclusion that the company's further growth and development would best be guided by a strategic investor. I would like to thank the entire Nova Linia team for the work we have accomplished and wish everyone continued success and new achievements.”

“The acquisition of Nova Linia marks a new strategic milestone in the development of our business,” said Yuri Simonenko, a representative of the buyer. “We are confident that the deal will strengthen Epicenter's leading position on the Ukrainian DIY retail market, make us stronger in a new retail format and ensure complete satisfaction of our customers' needs.”