“Vinnytsapobutkhim sold for UAH 608 million: who bought the company
13 August 22:35
Today, on August 13, a large-scale privatization auction of the state-owned stake in VinnytsiaPobutkhim Private Joint Stock Company in the amount of 266,367 shares, which is 100% of the company’s authorized capital, was held. This was reported by "Komersant Ukrainian" with reference to the State Property Fund.
According to the State Property Fund, 2 bidders competed in the auction, which led to an increase in the value of the lot from the starting price of UAH 301,406,452 to the final price of UAH 608,135,789.
The highest bid for the stake in the company was offered by AFINA-GROUP Limited Liability Company.
“Today we held an auction for the privatization of the nationalized asset VinnytsiaPobutkhim. Previously, the company belonged to the sanctioned Russian oligarch Vladimir Plesovsky, but it was recovered for the state. This is a double benefit for Ukraine: we are returning the facility to active economic life and will use the proceeds to rebuild the country,” said Ivanna Smachylo, acting head of the SPFU.
The State Property Fund notes that VinnytsiaPobutkhim is a ready-made business with production infrastructure, personnel, premises and established processes. The buyer will receive an enterprise that can be scaled up, modernized or integrated into its own business model without the need to start from scratch.
The buyer must fulfill the social and investment obligations that are the conditions for privatization, including
- maintaining core business activities for five years;
- repayment of wage and budget arrears within 6 months;
- repayment of overdue accounts payable within five years;
- preventing the alienation or transfer of the Company’s property/assets to sanctioned persons and related parties during the fulfillment of the buyer’s obligations;
- social guarantees to employees in accordance with the requirements of labor legislation;
- preventing dismissal of employees within 6 months;
- compliance with the requirements of environmental legislation;
- implementation of the existing collective bargaining agreement and conclusion of a new one.
All proceeds from the privatization of nationalized assets are directed to the fund for liquidation of the consequences of armed aggression and are used to restore the country.
“Investing in state-owned facilities is a great opportunity for business development. It allows not only to expand operations and introduce new technologies, but also to create jobs, contributing to the growth of the country’s economy,” the State Property Fund notes.
