Nationalization and privatization: how the state returns strategic assets of household chemicals
14 November 19:52
The Antimonopoly Committee of Ukraine has approved the transfer of a controlling stake in VinnytsiaPobutkhim to Athena Group, [Komersant] reports.
This decision paves the way for the completion of one of the most illustrative stories of the return of assets related to Russian capital to state ownership.
What the AMCU decided
The Committee allowed Athena Group to acquire 100% of the shares of a Vinnytsia-based company specializing in the production of household chemicals. The decision was made on November 13. The regulator’s approval is a mandatory step to finalize the privatization deal.
How the auction went
The online bidding, which took place on August 13, demonstrated significant interest among investors: the starting price of UAH 301.4 million excluding VAT rose to UAH 608.1 million.
The winner was Athena Group, which offered more than twice the amount for the company.
Why did this company become a high-profile one?
“VinnytsiaPobutkhim had long been under the control of Russian owners, Nevskaya Cosmetics and businessman Volodymyr Plesovsky. In 2023, the assets were seized by the High Anti-Corruption Court under the sanctions legislation.
The plant was included in the list of large-scale privatization, becoming one of the most notable cases of seizure of property belonging to Russian citizens.
After receiving the AMCU’s approval, Athena Group can proceed with the legal formalization of the deal. The government expects that the new owner will be able to modernize production and restore stable operation of the company in the domestic market.
