ARMA is seeking a manager for IDS Ukraine Group’s assets: details of the tender
18 May 17:53
The Asset Recovery and Management Agency (ARMA) has announced a tender to select a manager for the assets of the IDS Ukraine group. IDS Ukraine is one of the largest bottled water producers in Ukraine, comprising such well-known brands as “Morshynska” and “Mirgorodska.”
This was reported by ARMA’s press service , as reported by "Komersant Ukrainian".
The competition is being held under new rules introduced as part of ARMA’s reforms. As noted by ARMA’s press service, these approaches involve stricter requirements for candidates, tougher selection criteria, and additional mechanisms for monitoring the management of strategic assets. The main goal of these changes is to minimize corruption risks and ensure competitive selection conditions.
Current situation with IDS Ukraine’s assets
Following the announcement of the tender, IDS stated that this decision in no way affects the current operational activities of the group’s enterprises. The plants in Morshyn and Myrhorod are operating as usual.
IDS also noted that ARMA’s authority to manage the group’s assets is being challenged in court. According to the company, the basis for this lawsuit is legislative changes that limit ARMA’s rights to manage assets.
The administrator selected through the competition will be required to transfer funds to the state budget on a monthly basis as income from asset management. However, the only legal source of income from corporate rights is dividends, which can only be paid out next spring.
In addition, as IDS notes, the manager will not be able to purchase domestic government bonds worth UAH 2.19 billion, as the company does not have such funds in its accounts.
Court Proceedings and Asset Valuation
Currently, the High Anti-Corruption Court is considering the nationalization of IDS’s assets. A final decision may be announced within two to three months.
Regarding the value of the assets, IDS claims that the company’s valuation of approximately 5 billion UAH, commissioned by ARMA, is too low. An independent valuation, which is already included in the court case materials, reaches 8 billion UAH.
Back in 2022, the court seized the shares and funds of “Morshynska,” which belonged to Russian oligarch Mikhail Fridman. In March 2023, “Carpathian Mineral Waters” LLC became the administrator of “Morshynska,” but in April 2025, ARMA terminated the agreement with the administrator due to legal restrictions.
What is known about IDS Ukraine
IDS Ukraine is one of the largest mineral water producers in Ukraine and the market leader in bottled water. The company has been operating since 1996.
The group’s structure includes the Morshyn Mineral Water Plant “Oscar,” the Myrhorod Mineral Water Plant, the distribution company “IDS,” and the water delivery service IDS Aqua Service.
The company produces the brands “Morshynska,” “Mirgorodska,” “Mirgorodska Lagidna,” “Aqua Life,” and “Alaska.” Previously, it was also one of the key distributors of the Georgian mineral water “Borjomi” in Ukraine.
IDS Ukraine’s headquarters are located in Kyiv. The company is one of the largest employers in the beverage industry in Ukraine.
