Brick for a quarter of a billion: Medvedchuk’s plant was valued at 246 million
25 June 2025 17:22
The seized Kerambud plant, which belonged to Putin’s crony Viktor Medvedchuk and his associate Taras Kozak, has a market value of UAH 246.2 million, according to the head of the ARMA, Olena Duma, citing the results of an independent assessment, "Komersant Ukrainian" reports.
“Kerambud is one of the leading manufacturers of building bricks in the western region of Ukraine. The company is equipped with modern German equipment and operates on a fully automated cycle.
In early May 2025, ARMA announced a tender to find a manager for this asset. Market consultations are currently underway, after which the plant will be put up for public auction on the Prozorro platform.
During the inspection of the facility, ARMA found no signs of its use or violations.
What is known about Medvedchuk’s assets under ARMA’s management
Kerambud plant (brick factory in Lviv)
The National Asset Recovery and Management Agency (ARMA) conducted a detailed inspection of the plant and found that no violations or illegal use were detected.
An independent appraisal estimated its value at UAH 246.2 million.
The plant is equipped with a modern automated line and can produce up to 4 million bricks per month.
In May 2025, a tender was launched to select a manager for this asset.
Other assets transferred to ARMA’s management
Betonbud LLC: a preliminary inspection revealed illegal use of the asset, including vehicles that were seized.
Capital Plaza LLC, Zhovten sports center (Obukhiv district), three apartments and a private house on Obolonska embankment are also under ARMA’s management, and the assets are being actively examined, evaluated and prepared for tenders for transfer to a manager.
The Glusco gas station, vehicles (including buggies, ATVs, and a Maybach car) were sold by ARMA to the budget and the Armed Forces of Ukraine.
Revenue Strategy and Direction
ARMA transfers assets to public or private managers through transparent tenders on Prozorro, after which the property works for the benefit of the state – either through management income or through sale.
For example, the Glusco network brought in over UAH 50 million to the budget within 8 months, and the buggies and ATVs sold brought in almost UAH 1 million.
Legal conflicts around the sale of assets
The HACCU Appeals Chamber lifted the ban on the sale of Medvedchuk’s assets in January 2025, but the Supreme Court suspended the sale pending the trial.
As a result, ARMA has postponed the sale of the paintings – the funds paid by the buyers have not been released, and the agency is preparing a cassation appeal.
ARMA is currently managing or selling various assets of Medvedchuk’s – factories, gas stations, real estate, vehicles. The procedures are carried out through appraisals and open tenders. Some of the proceeds have already replenished the budget and supported the Armed Forces. However, legal disputes (in particular around paintings) have led to delays in the sale of some assets.
If you are interested in details about individual objects (e.g., heads of tenders, management conditions), I can find accurate information.
