Chernovetsky’s ex-son-in-law loses battle for Ukrbud to Georgian businessman: details of the auction
18 June 22:47
Petro Oil & Chemicals LLC won the auction for the privatization of Ukrbud, which took place on June 18, 2025, in the Prozorro.Sale system. Thus, the construction company was transferred to Georgian businessman David Bezhuashvili, who won the auction from Universal Development, which is associated with Vyacheslav Suprunenko, the former son-in-law of former Kyiv mayor Leonid Chernovetsky, reports "Komersant Ukrainian".
In addition to these two companies, five other bidders took part in the auction:
- “Alarit-Prom, associated with businessman Serhiy Spodin;
- “Tamen, represented by businessman Volodymyr Lukianchikov;
- “Techno-Online – owned by Marina Ayab, who, according to stock exchange documents, offered an amount only UAH 1,000 less than the winner.
“Petro Oil and Chemicals offered UAH 805 million at the auction, three times more than the starting price of UAH 262.6 million.
“Ukrbud and the Big Privatization: Context
The auction was held as part of the large-scale privatization that the Ukrainian government resumed in 2024. The Ministry of Economy emphasizes that active bidding, competition, and a threefold increase in the price are evidence of investor confidence in Ukraine even during the war.
Ukrbud specializes in the design of industrial and civil facilities, construction and installation works, as well as training and retraining of workers. It has 10 subsidiaries, including design institutes and training centers. The sale of the asset can ensure the further development of training for the construction industry.
The Ministry of Economy emphasizes that the sale of Ukrbud at auction is primarily for the benefit of the state:
Financial efficiency. The final price was three times higher than the starting price. This is a signal of market valuation and investment business.
Social component. A controlled transfer of ownership while preserving labor guarantees avoids negative social consequences.
Economic policy. The auction of Ukrbud confirms the policy of privatization as a tool for attracting investment.
See also: 147 real estate objects at auction: the state sells Ukrbud
Conditions for the new owner of Ukrbud
Under the terms of the agreement, the new investor is obliged to:
- Maintain the profile of the companies and continue their activities in the same field.
- Pay off wage and budget arrears within 6 months and cover overdue accounts payable.
- Ensure that the labor rights of employees are preserved, and prohibit mass layoffs during the first six months.
- Transfer dividends to the state budget for 2024-2025.
As a reminder, the “Big Privatization” was launched in September 2024. Three auctions have already been held for a total of over UAH 8.3 billion. The state budget for 2025 envisages UAH 3.2 billion in privatization revenues, and UAH 447.6 million (excluding VAT) has already been received in the first half of the year.
The Ministry of Economy plans to continue privatizing state-owned facilities, regularly preparing assets for Prozorro. The sale of Ukrbud may become a starting point for other large lots. And the investor’s fulfillment of all obligations is the key to the successful completion of the deal.
What you need to know about David Bezhuashvili, who acquired Ukrbud
David Bezhuashvili is a Georgian businessman, founder and chairman of the board of Georgian Industrial Group (GIG), the largest holding company in Georgia. The company was founded in 2006 and covers a wide range of industries, including energy, real estate, transportation and high technology. GIG operates hydro and thermal power plants, as well as electricity generation and sales, gas trading and logistics. The company also invests in medical technology and the financial sector.
Between 1999 and 2016, Bezhuashvili was a member of the Georgian parliament from the Tetritskaro region. He held various positions in the parliament, including chairman of the Subcommittee on Taxes and Taxation, as well as a member of the Committee on European Integration and the Committee on Regional and Local Self-Government.
In 2015, Bezhuashvili founded the David Bezhuashvili Charitable Foundation, which supports engineering and technical education programs and invests in preserving Georgia’s cultural heritage.
Bezhuashvili is actively investing in Ukraine. His company is involved in the Kherson Commercial Sea Port concession and is interested in investing in Ukraine’s transportation infrastructure, energy, and high tech. Bezhuashvili emphasizes the importance of historical and personal ties between the Georgian and Ukrainian peoples, which contributes to successful business and social projects.
Bezhuashvili is also actively involved in public life, participating in the annual meetings of the Yalta European Strategy (YES), where they discuss Ukraine’s development and integration into the European community.
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