“A court in Finland seized Russian assets at the request of Naftogaz, Crippa paid 54.3 million euros for the Ukraine hotel in Kyiv: the main events in the life of state-owned companies from October 24 to November 17.”, — write: www.epravda.com.ua
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The energy infrastructure of Ukraine is again under massive attack, for the first time in almost three months; power outage schedules are returning. On November 17, 2024, the Minister of Energy of Ukraine Herman Galushchenko reportedthat Russia carried out another mass attack with missiles and drones on the energy infrastructure of Ukraine. According to the words the ministerRussian troops attacked electricity generation and transmission facilities throughout Ukraine.
According to the data Air Force The attack by the Armed Forces of Russia took place on the night and morning of November 17, 2024 and was characterized by the use of combined arms. Russia applied 210 means of air attack, air defense of Ukraine knocked down 102 missiles and 42 drones. Air defense units responded to Russian air targets in almost every region of Ukraine.
“Ukrenergo” reported on damage energy facilities, and later – about stated that two of its employees died during the attack on the substation in Odesa region.
Due to shelling, the company was forced introduce emergency power cuts in several areas. Later that day the blackout were cancelledbut “Ukrenergo” announced about power outage schedules for November 18, 2024 in all regions of Ukraine from 6:00 a.m. to 10:00 p.m.
“DTEK” of Rinat Akhmetov, the largest private energy holding of Ukraine, reportedthat Russia has again attacked its thermal power plants (TPPs), seriously damaging the equipment. This is already the eighth mass attack on TPP in 2024, added in “DTEK”.
[FromMarch22toAugust262024UkrainesufferedsevenmassivestrikesbymissilesanddronesonelectricityfacilitiesLearnmoreaboutthis[З22березняпо26серпня2024рокуУкраїназазналасемимасованихударівракетамиідронамипооб’єктахелектроенергетикиДокладнішепроцеread in our previous ones digests. The November 17 attack was the first mass attack since then. – SOE Weekly.]
“Ukrenergo“ in technical default for “green“ bonds November 6, 2024 “Ukrenergo“ reportedwhich from November 9, 2024 temporarily suspends payments on debt obligations for “green“ sustainable development bonds ($825 million), issued in 2021 under state guarantee.
IN “Ukrenergo“ emphasized that this technical measure will be in effect until the completion of debt restructuring, which is planned for the coming months.
“The company’s bondholders have been and will remain important partners “Ukrenergo“. In 2022, the parties agreed to postpone the repayment of the bonds, which helped support the company during the war and significantly contributed to its financial stability over the past two years.
In the near future, the company intends to interact with a group of bondholders to agree on fair and mutually acceptable changes to the terms of the bond issue to ensure long-term financial stability“– said the company.
Helsinki District Court seized Russian assets in Finland at the request “Oil and gas“. October 28, 2024 “Naftogaz“ reportedthat the District Court of Helsinki granted his request by seizing certain assets belonging to Russia in Finland. We are talking about real estate and other assets valued at tens of millions of dollars.
This decision is part of a global strategy “Oil and gas“ to collect compensation for damages caused as a result of the seizure of its assets in Crimea, in accordance with the decision of the Hague Arbitration Tribunal, the company explained.
This is also the first publicly known successful seizure of assets outside of Ukraine to enforce an arbitration award in cases of lawsuits by Ukrainian companies against Russia regarding the expropriation of property in Crimea in 2014. It is an intermediate step on the way to the actual foreclosure of assets “Oil and gas“the statement said.
“Since Russia refuses to voluntarily pay Naftogaz the funds stipulated by the Hague decision, we continue to use all available mechanisms to collect them. Today, we are one step closer to restoring justice. At the same time, we are taking active steps to enforce the arbitration award in other target jurisdictions where there are Russian assets“– stated Oleksiy Chernyshov, Chairman of the Board of Naftogaz.
Like us reported in April 2023, the Arbitration Tribunal at the Permanent Chamber of the Arbitration Court in The Hague ordered Russia to pay 5 billion dollars. to cover losses “Oil and gas“ in Crimea, which arose as a result of its seizure by Russia in 2014. Read more about this in one of our previous ones digests
Ukraine increased gas production to the highest level since the beginning of the full-scale war, “Ukrgazvydobuvannya“ and “Ukrnafta” – in the leaders. According to calculations ExProin October 2024, gas production in Ukraine increased by 2.3% year-on-year to 1.6 billion cubic meters. m. This is the highest monthly output since January 2022 (the period before the full-scale Russian invasion), the publication adds.
According to ExPro, “Ukrgazvydobuvannya“a subsidiary company “Oil and gas“increased gas production by 1.6% to 1.24 billion cubic meters. m in October 2024. For 10 months of 2024 “Ukrgazvydobuvannya“ produced 12.1 billion cubic meters. m, which is 5.4% more than in 2023.
“Ukrnafta“another company of the Naftogaz Group, increased gas production by 4.6% to 96.4 million cubic meters. m in October 2024. In 10 months of 2024, the company produced 967 million cubic meters. m, which is 7% more than in the same period last year.
At the same time, private companies increased gas production by 4.4% to 324 million cubic meters. m compared to the same period last year. In total, in 10 months of 2024, private companies extracted 2.75 billion cubic meters. m, which is 12% less than in 2023.
According to ExPro forecasts, total gas production in Ukraine may increase by 2.2% to 19.1 billion cubic meters. m in 2024.
“Chornomornaftogaz“ received new terms of the contract for the management of Firtash’s gas distribution companies. November 13, 2024 Agency for Search and Management of Assets (ARMA) reportedwhich signed an additional agreement with “Chornomornaftogaz“ as manager of the confiscated regional gas of Dmytro Firtash.
According to ARMA, “Chornomornaftogaz“ paid UAH 172 million to the state budget from the management of Firtash’s companies in 2022[501millioneurosattheaverageexchangerateforthisperiod-[501млнєврозасереднімкурсомзацейперіод-SOE Weekly]. At the same time, the manager guaranteed to pay more than UAH 500 million from the management of these assets in 2023[126millioneurosattheaverageexchangerateforthisperiod-[126млнєврозасереднімкурсомзацейперіод-SOE Weekly], added in ARMA.
[PreviouslywewroteaboutthewaveoftakeoversofFirtashRegionalGasbyNaftogazAboutKharkivgazDniprogazSumygazVinnytsiagazDnipropetrovskgazIvano-FrankivskgazKhmelnytskygazMykolaivgazCherkasygazVolyngazChernihivgazZakarpatgaz”Rivnegaz””Zaporizhgaz””Chernivtsigaz”and”Ternopilgaz”readmoreinour[РанішемиписалипрохвилюпоглинаньоблгазівФірташа”Нафтогазом”Про”Харківгаз””Дніпрогаз””Сумигаз””Вінницягаз””Дніпропетровськгаз””Івано-Франківськгаз””Хмельницькгаз””Миколаївгаз””Черкасигаз””Волиньгаз””Чернігівгаз””Закарпатгаз””Рівнегаз””Запоріжгаз””Чернівцігаз”та”Тернопільгаз”читайтедокладнішеунашихprevious ones digests.
December 19, 2023 “Naftogaz” reportedthat “Tysmenytsiagaz”, “Korostyshivgaz”, “Luhanskgaz” and “Melitopolgaz” came under the control of the state and joined the “Naftogaz” Group. The last two companies are located in the temporarily occupied territories, so their operational management will be carried out after de-occupation.
As a result, Naftogaz Group now manages 27 gas distribution companies, which were planned to be transferred to state control by the end of 2023, Naftogaz explained.
The unification of regional gas companies makes Naftogaz a monopoly in gas distribution, but this is a wartime measure, and they should be privatized at open auctions when “the situation allows,” Naftogaz chairman Oleksiy Chernyshov said a year ago.
We are too reportedthat Chornomornaftogaz, as the manager of the regional gas confiscated from Firtash, paid UAH 63.6 million (or EUR 1.5 million at the current exchange rate) in dividends in 2022.
In addition, we wrote that on June 25, 2024, the Supreme Anti-Corruption Court (SAC) canceled the seizure of shares of gas distribution companies owned by the “Regional Gas Company” (“RGK”) of Dmytro Firtash.
On the same day, ARMA reported that it had already applied to the Prosecutor General’s Office with a request to re-arrest the companies. Later that day, ARMA reported that the Pechersk District Court of Kyiv had returned them to state ownership. – SOE Weekly.]
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The winner of the auction paid 54.3 million euros for the hotel “Ukraine“ in Kyiv. On October 30, 2024, the State Property Fund of Ukraine (FSMU) announced that LLC “Ola Fine“the winner of the privatization auction, paid in full UAH 2.5 billion (EUR 54.3 million) for the hotel itself and UAH 502 million (11.3 million euros) VAT.
These funds will be directed, in particular, to support the Armed Forces of Ukraine, added at FSMU
According to the words Ministry of Economyas of the end of March 2024, the hotel’s salary arrears amounted to UAH 3.9 million (about EUR 90 thousand), debt to the budget – UAH 10.8 million (about EUR 247 thousand), and overdue payables – 21 million hryvnias (about 480,000 euros). In addition, the buyer is obliged to provide social guarantees in accordance with the law and cannot dismiss employees for six months.
As we wrote earlieron September 18, 2024, FSMU sold a Kyiv four-star hotel “Ukraine” for UAH 2.5 billion (EUR 54.3 million). According to FSMU, the hotel “Ukraine” has 363 rooms, 6 conference rooms, meeting rooms, a shelter with a separate auditorium for holding events for 50 people, as well as parking for 80 cars.
By the owner Ltd “Ola Fine“ is a businessman Maxim Krippa. The winner of the auction had 30 working days to pay the price of the lot.
[Aswereported[ЯкмиповідомлялиearlierMaksym Krippa, a businessman who avoids publicity, became famous in 2022 when Forbes Ukraine wrote that he acquired the largest Ukrainian e-sports brand – the NAVI team. Later, representatives of the businessman confirmed that the agreement was concluded back in 2018. Crippa also owns eSports broadcast studio Maincast. In 2023, he acquired the company GSC Game World, which is the developer of the game STALKER
Crippa, who bought the Brovary Wholesale Market back in 2009, has recently started buying up large real estate properties in Kyiv. In 2020, he purchased the Kyiv hotel “Dnipro”, which is located next to the “Ukraine” hotel, and at the end of 2023 – the Parus business center, which previously belonged to businessman and former MP Vadym Stolar. Read more about Crippa in one of our articles previous ones digests – SOE Weekly.]
The sale of the “Ukraine” hotel increased the revenue from privatization to UAH 5.7 billion (EUR 127.8 million), reported Ministry of Economy on October 31, 2024. This is UAH 1.7 billion more than planned for 2024, added in the ministry.
[Aswewrote[Якмиписалиearlierin the state budget for 2024 revenues from privatization are planned at the level of UAH 4 billion (about EUR 95 million). According to a recent report FSMU, in January-August 2024, privatization brought UAH 2 billion (EUR 46.7 million). All these revenues were received from small privatization.
In other words, as we have already written, the privatization of the “Ukraine” hotel alone brought in more revenue than all the objects of small privatization since the beginning of this year. After Ola Fine LLC paid the funds as required by law, the FSMU’s 2024 privatization revenue plan, modest as it may be, has been fulfilled for the first time in many years. – SOE Weekly.]
The Belgorod-Dniester port was finally sold. According to the data Prozorro. Salesthe twelfth attempt to sell the port took place on October 31, and she again failed due to lack of applicants. Starting price amounted to UAH 178 million (EUR 4 million).
[AsweexplainedearlierinOctoberitwasdoubtfulthattheassetwouldattractbuyersthistimearoundLearnmoreaboutthis[ЯкмипояснювалиранішевжовтнібулосумнівнощоактивпривабитьпокупцівцьогоразуДокладнішепроцеread in one of our earlier digests. – SOE Weekly.]
However, the thirteenth attempt, November 8, 2024was successful. There was a starting price reduced doubled – to UAH 89 million (EUR 2.04 million), and only one participant took part in the auction – LLC “Top Offer“.
The company offered UAH 90 million (2.06 million euros) for the facility. To complete the privatization, the auction participant must pay this amount and VAT – a total of UAH 108 million (EUR 2.47 million).
[Despitethelargeamountofnewsaboutprivatizationon[НезважаючинавеликукількістьновинпроприватизаціюнаFSMU websiteincluding news about minor events, there is no separate release about the successful sale of the Belgorod-Dniester port, in which the FSMU would provide more detailed information.
According to the data YouControl, “Top Offer” LLC was registered at the end of 2023 in Kyiv. The main registered type of activity is the leasing and operation of own or leased real estate. By the owner the company has Yevhen Boguslavskyi, who also owns financial company “Inkam”.
At the beginning of 2023, by order of an unnamed investor, the Incam company purchased the lot of “MR Bank”, which included rights to a loan secured by a pledge of the Tsarsky City Resort fitness club in Kyiv. Later Top Offer LLC participated in the auction for the privatization of the Kyiv Prosthetic Plant, but lost to another participant.
Bohuslavskyi said he could not disclose details of the privatization because of a non-disclosure agreement with the investor. According to him, the name of the new owner of the seaport may become known within a month. Boguslavsky also refused to discuss the origin of the money for the purchase.
“In this project, I am acting in the interests of the investor. He did not share all his plans with me. But I can say that the bridge across the Dniester estuary in Zatoka[whichwasdestroyedbyRussianmissileattacks-[якийбувзруйнованийросійськимиракетнимиобстрілами-SOE Weekly]he will restore. But it won’t be this year, because not everything will happen at once,” – explained Bohuslavskyi.
[[The first auction for the privatization of the Belgorod-Dniester port in March 2023 did not take place, as no one registered for it.
At the second auction, the port was sold for UAH 220 million (EUR 5.6 million at the time) to Ukrdoninvest LLC, owned by Ukrainian businessman Vitaly Kropachev. However, “Ukrdoninvest” decided not to pay the funds.
Like us wrotethe company announced that it refused the purchase at the stage of negotiating the terms of the sales contract with the regional branch of the Federal State University in Odesa and Mykolaiv regions.
Later, the FSMU announced that it would put the Bilhorod-Dnistrovsky port up for privatization for the third time, but this auction also did not take place (see one of our previous ones digests).
In August 2024, former Deputy Minister of Infrastructure Viktor Dovgan posted post on Facebook, from which it appeared that Polish investors are considering the possibility of participating in the privatization of the port.
However, the ninth auction for port privatization failed. Tenth and eleventh attempts to sell the port as well failed.
In addition, we wrotethat, according to CASE Ukraine, despite the attractiveness of the asset, there were no applicants for it, as the port had debts in the amount of UAH 151.3 million (EUR 3.6 million), which the winner of the auction under standard conditions would have to repay in addition before payment of the asset price itself and 20% VAT.
If this information (so far) is correct, then the winner of the competition would have to spend a total of UAH 259 million (€5.93 million) to acquire the asset, including the purchase price of the port itself, VAT and outstanding debts. However, we are not aware of the availability of information from the FSMU on this matter.
Read more about previous attempts to sell the port read in ours of the past digests. – SOE Weekly.]
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49% of the chain of Shell gas stations in Ukraine, which previously belonged to the sanctioned Khudainatov, officially became the property of the FSMU. November 5, 2024, FSMU reportedwhich became the owner of 49% of the authorized capital of the LLC “Alliance Holding“which manages the chain of Shell gas stations in Ukraine.
[EduardKhudainatovformertopmanageroftheRussianstate[ЕдуардХудайнатовколишнійтопменеджерросійськоїдержавної of the Rosneft company, is the owner of the Independent Oil and Gas Company. In June 2022, he came under EC sanctions, in October 2022 – of Ukraine.
By decision Ukrainian assets of Khudainatov, including his share in the LLC, of the Higher Anti-Corruption Court “Alliance Holding“were confiscated by the state.
According to this decision, the previous owners of the LLC “Alliance Holding“ – Cicerone Holding BV and Bogstone Holding BV – were excluded from the company’s founders, he adds liga.net. It was approved new ownership structure: Shell Overseas Investments BV – 51%, FSMU – 49%. – SOE Weekly.]
FSMU as well notedwhich is preparing to privatize its 49% stake in the Shell gas station network.
[Aswewrote[ЯкмиписалиearlierFSMU announced that it received control over 49% of the Shell network in April 2024. According to Forbes Ukraine, before the full-scale Russian invasion, Shell had 131 gas stations in Ukraine, 118 of which were still operating as of April 2024. Read more about it in one of ours previous ones digests – SOE Weekly.]