---
title: "OW Capital — KVBZ: the other investors, directors and separate Prykhodko interests"
language: en
canonical: https://dossiertwist.com/dossiers/ow-capital/kvbz-other-investors/
as_of: 2026-10-10
keywords: ["OW Capital Management","KVBZ","Stanislav Gamzalov","ZMK","ELZ","ENA","MASZ","industrial holdings"]
---

# OW Capital — KVBZ: the other investors, directors and separate Prykhodko interests

- Jurisdiction: UA (UA)
- Company register: 05763814 (Retained corporate identity record)

**Question.** Does shared investment in KVBZ make every shareholder part of the OW group?

**Answer.** No. The register gives separate dated holdings and later control chains. The Prykhodko interests, board representatives and subsidiaries must be understood at the relevant dates.

## Other KVBZ investors form separate dated chains

- Analysis: KVBZ’s September 2021 disclosure identified OW at 25%, Skinest Finants at 25%, Delantina at 25% and Transbuilding Service at 20%. Later Estonian, UK and Ukrainian records connect Volodymyr and Nataliia Prykhodko with interests through other holdings. Dzhakhpar Gamzalov represented OW on the supervisory board until September 2021, and Vadym Duzyk’s OW representative mandate ended in June 2022. The parent’s 2025 directory financials report UAH 2.617 billion revenue and a UAH 124.57 million net loss. [s-d70] [s-d297] [s-d298] [s-d299] [s-d300] [s-d301] [s-d302] [s-d360] [s-d477] [s-d478] [s-d480]
  - Qualification: Later control records dated 2018, 2022 or 2023 do not automatically prove the same chain at every earlier shareholding date. Co-investment in KVBZ does not make the Prykhodko network an OW subsidiary. The historic indirect Gamzalov chain ended with the documented 2026 state transfer, and generic directory founder labels must not create a direct personal stake in its subsidiaries. Corporate capacities are retained without inferring private family relationships.

## Sources

- [s-d70] Other source · s-d70
- [s-d297] Media source · s-d297
- [s-d298] Corporate registry concerning OW Capital or the identified participant, Estonian e-Business Register <https://ariregister.rik.ee/est/company/11080094>
- [s-d299] Corporate registry concerning OW Capital or the identified participant, UK Companies House <https://find-and-update.company-information.service.gov.uk/company/04764608/persons-with-significant-control>
- [s-d300] Corporate registry concerning OW Capital or the identified participant, Estonian e-Business Register <https://ariregister.rik.ee/est/company/12489928>
- [s-d301] Media source · s-d301
- [s-d302] Media source · s-d302
- [s-d360] Other source · s-d360
- [s-d477] Other source · s-d477
- [s-d478] Other source · s-d478
- [s-d480] Other source · s-d480