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Automatically translated version. May contain inaccuracies compared to the original.
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Co-owner of ATB Yevheniy Yermakov kept to the shadow of Hennadiy Butkevych for years. But the traces of his money — in Florida, on the French Riviera, and in Kyiv’s forests — speak for themselves.
Yevheniy Petrovych Yermakov is the least public of the three co-owners of Ukraine’s largest discount chain. Formally he, Butkevych, and Viktor Karachun hold equal shares in ATB-Market and most of their joint companies. Yet Yermakov remains a figure about whom Ukrainian media have written only a few lines for decades: year of birth and a diploma from the Donetsk Institute of Soviet Trade.
By the “canonical” version cited by Forbes, in 1993 Butkevych created Agrotekhbyznys — the predecessor of ATB. Later Yermakov (then co-owner of the Dnipro meat processing plant), builder Serhiy Tarasiuk, and economist from Uzbekistan Karachun joined him. Another version claims that Yermakov together with Tarasiuk and former Dniprodzerzhynsk mayor Yaroslav Korchevskyi actually founded the company, and then Butkevych and Karachun “squeezed out” the first partners.
Regardless of who was at the origins, Yermakov repeatedly mirrors the lifestyle of the senior partner. Like Butkevych, he invests his earnings overseas.
In 2015 a shareholder of the chain that markets itself as stores for less-well-off Ukrainians bought a former BB&T bank building in a Miami suburb measuring 245 sq. m for 7,1 million dollars. Local media wrote of a “colossal” almost 27 thousand dollars per square meter — a price for which you could buy a two-room apartment in Dnipro. The bank was not evicted from the building: the branch still pays rent. In addition, Yermakov has Florida-registered companies Lucky Wave Management Inc. and Boca Season 52 2300, Inc., which are engaged in real estate. The businessman and his wife Tetyana are registered in Boca Raton, where they bought apartments in the Plaza Real complex — a half-hour walk from the Atlantic Ocean.
At the end of 2017, when Butkevych was building a portfolio of oil and gas assets under the American company Trident Acquisitions, Yermakov, according to registries, became the beneficial owner of the French company Madura Observatoire SCI. It holds a villa with a pool at 26-28-30 Boulevard de l’Observatoire in Domaine de Super Cannes. The asset is registered in partnership with Maltese Solaria International Holding Limited — a structure associated with Yermakov himself. The purchase of luxury property on the French Riviera occurred against the backdrop of another partner — Karachun — obtaining Cypriot resident status and being listed as a resident of a complex in Limassol.
Yermakov has also left traces in Ukraine. Besides property-management companies (Istate Management and Capital Istate Management), he controls the hunting estate Forest, which leases land from Vyshchedubechanskyi forestry in the Kyiv region. The estate’s director is listed as Ivan Stupak. Through this structure, according to publications, links can be traced that go beyond ordinary wild-game business.
Today, as Yermakov is again mentioned in connection with new foreign assets, the old story about the “quiet” co-owner takes on a new resonance. The question remains the same: how much longer can one stay in the shadows when the money trails become too conspicuous.
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