Holding a new competition to select an asset manager for IDS Ukraine, the producer of the “Morshynska” and “Mirgorodska” mineral waters, before the High Anti-Corruption Court issues a ruling may have limited prospects, said Pavlo Velykorechanyn, an expert with the Verkhovna Rada’s Anti-Corruption Committee and former deputy head of ARMA, in an exclusive interview with the “Interfax-Ukraine” news agency.
ARMA previously announced another tender to select an asset manager for IDS Ukraine and expects to hold it in September.
However, according to Velykorechanyn, there are legal obstacles that could significantly dampen the interest of potential participants.
In particular, certain court rulings lack a clear prohibition on current operators from using the companies’ assets. This could complicate the actual transfer of control to the new manager.
In addition, according to the company’s own data, the share of individuals subject to sanctions in IDS Ukraine is 49.7%, i.e., less than 100%. Under the new legislation, in such a situation, management requires either the consent of the other co-owners or a decision to forfeit the relevant share to the state budget.
The High Anti-Corruption Court (HACC) is currently considering a case regarding the forfeiture of the asset to the state; a decision is expected in the fall.
“Until the HACC issues a decision to forfeit this stake to the state and it is transferred to the State Property Fund, the prospects for ARMA conducting any tenders regarding IDS are highly uncertain,” Velikorechanyn noted.
Previously, several attempts were made to transfer IDS Ukraine’s assets into management. In particular, an agreement was signed with the company “Karpatska Dzherelna,” but the procedure for approving the concentration with the Antimonopoly Committee lasted about a year and a half and was not completed, after which the agreement was terminated.
asset, IDS Ukraine, MANAGEMENT, АРМА, ВАКС, Великоречанин
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