Sumykhimprom is once again without buyers: the repeat privatization at a reduced price did not take place
13 January 19:46
The repeat online auction for the privatization of 99.99% of the shares in PJSC “Sumykhimprom, ” one of Ukraine’s largest chemical companies, did not take place on January 13, 2026. The auction was held at a starting price reduced by 9.3%—1.088 billion UAH—but no bidder submitted an offer.
This is stated in the minutes posted on the Prozorro website on the evening of January 13, which were compiled after the deadline for accepting bids, writes Interfax-Ukraine, as reported by "Komersant Ukrainian"
This is the second failed attempt to sell the asset: the previous auction in June 2025 also fell through due to a lack of interest from investors.
What terms were offered to investors
The privatization terms imposed a number of obligations on the new owner:
- maintaining the company’score business activities;
- investing at least UAH 150 million in modernization and technical re-equipment;
- repayment of wage arrears and budget debtswithin six months;
- settlement of overdue accounts payable, with the exception of debts to entities associated with the Russian Federation and Belarus or to sanctioned individuals;
- compliance with social guarantees and a ban on employee layoffs for six months following the purchase.
Sumykhimprom is one of the major revenue-generating enterprises in Sumy and the region
The plant produces complex mineral fertilizers, titanium dioxide, sulfuric acid, as well as over 30 brands of NPK fertilizers for various climatic zones.
For over ten years, the enterprise was managed by entities affiliated with businessman Dmytro Firtash’s Group DF. It was only in November 2023 that the court closed the bankruptcy and reorganization case at the request of the State Property Fund and the Ministry of Justice, paving the way for privatization.
After two unsuccessful auctions, the State Property Fund faces a choice:
- adjust the starting price once again,
- revise the terms of the tender,
- or seek a different approach to attracting an investor.
Previously, the company’s management had announced a strategy to achieve breakeven and gradually resume production. However, the lack of buyers indicates that the risks of war, the debt burden, and the volume of investment obligations currently outweigh the asset’s potential appeal to private capital.
