Ukraine seeks to seize water company owned by billionaire family of British theatre mogul
Ukrainian authorities are seeking to seize control of IDS Ukraine, the country's largest bottled water producer, in which a 34% stake is held by the Patarkatsishvili family, whose members include British theatre impresario Liana Patarkatsishvili. The dispute matters because it entangles a prominent UK cultural figure's family fortune in a wartime battle over what Kyiv considers a strategic asset, while raising questions about the treatment of non-sanctioned shareholders caught up alongside sanctioned Russian investors.
The company's holdings were frozen in 2022 because a 49% stake is also held by Russian investors, including sanctioned Alfa Group founder Mikhail Fridman, a Putin ally. Ukraine's asset recovery agency, Arma, says it has faced legal and bureaucratic resistance, and its head, Yaroslava Maksymenko, cited unproven concerns about money laundering and a cyber-attack during one takeover attempt, while dismissing the family's misconduct allegations against Arma as "misinformation". The Patarkatsishvili family, who inherited the stake in 2008 from the late businessman Badri Patarkatsishvili, deny wrongdoing, insist they have supported Ukraine since the 2022 invasion, and say they will pursue international courts if the Ukrainian anti-corruption high court process results in nationalisation.
- Ukraine's Arma agency wants to seize IDS Ukraine bottled water firm
- Patarkatsishvili family (34% stake) disputes claims, denies wrongdoing
- Case tied to sanctioned Russian co-owner Mikhail Fridman's 49% stake