Founders of Nova Liniya pull out

The Shandar brothers are withdrawing from Nova Liniya, a Ukrainian DIY chain. They founded the country’s first DIY retail multiple 19 years ago in tandem with a partner of the German Hagebau cooperation. Now they want to sell their remaining 35 per cent share holding and devote themselves to other business activities. Negotiations relative to this are already being held with investors. Liga Bisnes Inform is reporting on the subject after confirmation from management consultants Deloitte, who are accompanying the deal in collaboration with Golden Gate Business. The remaining 65 per cent of the share holdings belong to Dragon Capital, an investment trust, and the Est Capital investment fund.Nova Liniya, with a current total of 17 branches, has the second-biggest network of DIY stores in Ukraine. Sales revenues in 2010 exceeded US $ 300 mio.