Privat Group
The businesses of Privat Group are not formally included in a corporation, and its top managers sometimes state that there is no such group at all. However, either PrivatBank or ""Privat"-Intertrading" company indirectly own all companies regarded as parts of the group. Typically, industrial companies are controlled through a complicated chain of offshore companies. Despite this, the Ukrainian public has a clear understanding of what exactly belongs to the group. To describe such relations, the media use the wording “company X is controlled by the Privat Group" or "the business of the X company is being organized by the PrivatBank". The group never denies such statements.