Privatization after arrests: State Property Fund puts up 93% of Eurotrubplast in Kalush for auction
16 December 19:20
The State Property Fund of Ukraine has announced a privatization auction for the sale of a controlling stake in Eurotrubplast Trading House LLC in Kalush. This was reported by the SPFU press service, "Komersant Ukrainian" reports.
The starting price of the lot is UAH 54.3 million. The company is engaged in the production of plastic pipes and profiles and has previously been involved in the seizure of assets related to Russian business.
What happened
The SPFU announced that 93% of the authorized capital of Eurotrubplast Trading House was put up for privatization auction. The auction is scheduled for December 23. The starting price of the stake is UAH 54.3 million.
According to the fund, the authorized capital of the company is UAH 58.3 million, and the object also includes 10 units of vehicles manufactured in 2007-2018.
What kind of company is it?
“Eurotrubplast is located in Kalush, Ivano-Frankivsk region. The plant specializes in the production of plates, sheets, pipes and profiles made of plastics – products used in construction and infrastructure projects.
The sale of Eurotrubplast takes place against the backdrop of a larger privatization of assets in Kalush. Earlier, the State Property Fund had already put this asset up for sale together with Kalush Pipe Plant at a total starting price of almost UAH 140 million.
Kalush enterprises came into the focus of the state after court decisions to seize assets related to the Russian Poliplastik group. The Ukrainian authorities consider its founders and top managers to be involved in controlling these assets. At the end of 2022, corporate rights and real estate were seized and transferred to the management of the ARMA.
What does the privatization of Eurotrubplast mean for Ukraine?
For the state, the privatization of Eurotrubplast is part of the policy of withdrawing state ownership of enterprises that came under Ukraine’s control after sanctions and court decisions, as well as a way to raise funds for the budget in times of war.
For the market, this is a signal of a gradual return of such assets to commercial circulation, without any connection to Russian capital.
on December 23, it will become clear whether businesses will be interested in this asset at the starting price. If the auction is successful, the new owner will get a controlling stake in the company and the opportunity to restart or develop production in one of the industrial centers of Prykarpattia.
