The government has approved the terms of privatization of “Ukrbud” and “Sumykhimprom”: it is planned to raise up to UAH 1.5 billion

The Cabinet of Ministers has approved the terms and price of privatization of the State Joint Stock Company “Construction Company “Ukrbud” and the public joint stock company “Sumykhimprom”. It is planned to raise up to UAH 1.5 billion for both assets. This was announced by the government’s representative in parliament, Taras Melnychuk, in Telegram, reports UNN.

Details

According to Melnychuk, the Cabinet of Ministers approved the terms of sale of a package of shares of the State Joint Stock Company “Construction Company “Ukrbud” in the amount of 193 thousand 136 pieces, which is 100% of the company’s authorized capital.

The starting price for the sale of a package of shares of the State Joint Stock Company “Construction Company “Ukrbud” at an electronic auction with conditions, which is UAH 262 million 646 thousand, has been approved

The government also approved the terms of sale of a package of shares of PJSC “Sumykhimprom” in the amount of 1 billion 738 million 665 thousand 246 pieces, which is 99.9952% of the company’s authorized capital.

The starting price for the sale of a package of shares of the public joint stock company “Sumykhimprom” at an electronic auction with conditions, which is UAH 1 billion 158 million 50 thousand 202, has been approved

Addition

As reported by the Ministry of Economy, according to the approved conditions, the new owners of the shares of “Ukrbud” and “Sumykhimprom” must:

• preserve the profile of the enterprises;

• repay wage arrears and debts to the budget within 6 months;

• eliminate “Sumykhimprom’s” debt to the Pension Fund of Ukraine;

• repay overdue accounts payable;

• guarantee compliance with the labor rights of employees and prevent their dismissal during the first six months;

• direct dividends to the state budget based on the results of operations in 2024 and until the sale in 2025.

Reference

“Construction Company “Ukrbud” is engaged in the design of industrial and civil facilities, performs construction and installation works, and provides training and retraining of workers for the needs of the construction industry. The company includes 10 subsidiaries, including design institutes and training centers.

“Sumykhimprom” is a chemical industry enterprise in Ukraine that has been operating since 1953. The main products are mineral fertilizers, titanium dioxide, and inorganic chemistry. The company’s products provide the agricultural sector with fertilizers and are also used in many industries.

In 2023, the Cabinet of Ministers transferred “Ukrbud” to the management of the State Property Fund. In December 2024, the auction commission of the State Property Fund determined the starting price of “Ukrbud” at UAH 262.6 million.

At one time, “Ukrbud” was headed by Maksym Mykytas, who in 2019 was notified by NABU and SAP of suspicion of organizing the seizure of more than UAH 81 million from the National Guard of Ukraine.

In 2022, law enforcement officers detained Mykytas on suspicion of offering undue advantage in a particularly large amount, namely EUR 22 million. Mykytas wanted to bribe the mayor of Dnipro, Borys Flitov, and offered EUR 22 million for the opportunity to build a subway.

In July 2023, Mykytas was released from the pre-trial detention center – a bail of UAH 20 million was posted for him.