Large-scale privatization: confiscated enterprise belonging to Russian oligarch sold at auction for double the price

The confiscated enterprise “Vinnytsiapobutkhim”, which previously belonged to a Russian oligarch, was sold at auction as part of a large privatization for UAH 608 million – the bid during the auction doubled, Prime Minister Yulia Svyrydenko announced on Wednesday in Telegram, writes UNN.

Large-scale privatization continues. Today, an auction was held for the sale of 100% of the shares of “Vinnytsiapobutkhim”. During the auction, the winning bid doubled. The winner of the auction is ready to pay UAH 608 million for the enterprise

According to the Prime Minister, “the enterprise, which previously belonged to a Russian oligarch and was confiscated by a court decision, will get a new owner with an obligation to preserve production, pay off debts and guarantee the rights of employees.”

AdditionIn April, ARMA announced that it was ceasing to manage the assets of PJSC “Vinnytsiapobutkhim” and that they were being transferred to the State Property Fund of Ukraine for further sale.

This happened in pursuance of the decision of the High Anti-Corruption Court of July 24, 2024, according to which a sanction provided for in paragraph 1-1 of part one of Article 4 of the Law of Ukraine “On Sanctions” was applied to JSC “Nevskaya Kosmetika”, and an asset belonging to the Russian company – a 100% share of the authorized capital of PJSC “Vinnytsiapobutkhim” – was collected into the state’s income.