When Michael Lillja resigned, Afarak lost not only its long-term sales director but also its only Finnish Director, Finland’s Kauppalehti Today pointed out. The Finnish financial newspaper also said there were rumors that Danko Koncar and the Board of Directors hired a large group of friends and family members to the company’s management.
The deal for Kermas, the largest shareholder of Afarak and controlled by Koncar, to swap its majority shares in Afarak to Russia’s USC for Helsinki Shipyard is in limbo even after USC said three weeks ago it was a done deal. Afarak previously said it was unaware of any large movement in its ownership.
However, if USC takes a majority interest in Afarak and USC is under US sanctions that negatively affect Afarak’s sales to the US.
Now there is speculation that another Kermas asset, the Brodotrogiri shipyard in Croatia will be swapped for the Helsinki asset.