Business news from Ukraine

SE “SETAM” sold property worth UAH 22 billion

The State Enterprise “SETAM” (Ministry of Justice of Ukraine) has sold property worth over UAH 22 billion at the OpenMarket electronic auction. Since 2014, more than 83 thousand successful auctions have been held.

Due to competition at the auctions, sellers received an additional UAH 2.3 billion. The average price increase for sold lots is 11.8%.

The auction user base is the largest in Ukraine. Today it includes more than 101 thousand participants, and new ones are added every day. Most lots (68.5% of the total) were sold at online auctions by the State Enforcement Service and private executors.

Among the categories of property sold, most of them were real estate, vehicles and other property.

“Step by step, we are improving the auction and seeing the results of cooperation with both public and private enforcement officers and partners in the area of voluntary sale. Since the beginning of this year alone, we have already managed to sell rights of claim  under the agreements of individual borrowers for UAH 13.1 million, premises in Kyiv  for UAH 25.2 million, a complex of buildings and premises in Lviv region for UAH 22.6 million, and many other expensive properties. We would like to thank our buyers for their trust in our electronic auction. We will continue to work,” said Oleksandr Mamro, CEO of SE SETAM.

We remind you that SE “SETAM” works in the following areas:
– Sale of seized property by public and private executors, as well as property confiscated by court decisions;
– Sale of bank assets and claims;
– Holding auctions for the sale of property at the request of individuals and legal entities (voluntary sale);
– Holding auctions for lease of property;
– Sale of rights to enter into financial leasing agreements.

The most expensive lots sold for all time:
Building No. 4 and land plot in Kyiv.
Sale price: UAH 563,710,000.
Link to the auction:

The building of a hotel, office and retail and office complex in Kyiv.
Sale price: UAH 334,925,314.
Seller: JSC Ukreximbank.
Link to the bidding process:

Two land plots in Kyiv region.
Sale price: UAH 308,523,316.
The seller: Oschadbank JSC.
Link to the auction:

The OpenMarket auction (SE SETAM of the Ministry of Justice of Ukraine) is a simple and effective means of selling and purchasing property via the Internet. The online auction has been operating throughout Ukraine since 2014. The total amount of sales since its launch is UAH 22 billion.

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Lokhvytsia Distillery sold for UAH 14 mln

The State Property Fund (SPF) of Ukraine sold the state-owned Lokhvytsia Distillery in Poltava region for UAH 14 million at an auction on Prozorro.Sale, which is 24.% higher than the starting price.

According to the website of Prozorro.Sale, only one bidder took part in the auction, Agro-Sun LLC, which offered UAH 14 million for the lot at a starting price of UAH 11.22 million. The winner of the auction will have to pay UAH 16.82 million including VAT.

In addition, the buyer of the UMK SE Lokhvytsia Distillery is obliged to prevent the dismissal of employees and pay off the company’s wage and budget arrears within six months from the date of transfer of ownership.

SE Lokhvytsia Distillery is the largest of the remaining state-owned distilleries and has been out of business since 2009. As of March 31, 2024, the distillery’s overdue accounts payable reached UAH 55.68 million. The company has three employees. All the company’s assets are located in the Myrhorod district of Poltava region.

Agro-Sun LLC (Kharkiv) was founded in 2017, has more than five warehouses in different regions, and supplies chemical raw materials to more than 1,000 organizations.

In 2023, the company’s revenue amounted to UAH 31.54 million, net income – almost UAH 1.08 million, assets – UAH 35.18 million, and debt – UAH 22.7 million. The beneficiary of Agro-Sun LLC is Natalia Odariuk.

In 2023, Ukraine became second largest supplier of honey to EU after China

Ukraine in 2023 supplied the European Union market with 45.8 thousand tons of honey, which was the second result and accounted for 28% of all imports of this product by the Commonwealth countries, Eurostat reports.

According to the report, the largest supplier of honey in 2023 was China with 60.2 thousand tons and 37% of the market share, the third place belonged to Argentina with 20.4 thousand tons (12%), the fourth – Mexico with 10.7 thousand tons (7%), the fifth – Cuba with 4.7 thousand tons (3%).

The largest importer of honey in 2023 was Germany, which imported 41 thousand tons of honey from outside the EU, accounting for 25% of all EU imports. Belgium was the second largest importer with 31.4 thousand tons (19%), followed by Poland with 23.3 thousand tons (14%), Spain with 15.7 thousand tons (10%) and France with 7.7 thousand tons (5%).

In total, EU members imported 163.7 thousand tons of natural honey from non-EU countries in 2023, worth EUR359.3 million. At the same time, EU member states exported 24.9 thousand tons worth EUR146.0 million.

The UK was the leading buyer of honey produced in the EU in 2023 with 4.3 thousand tons (17% of all non-EU honey exports). This was followed by Saudi Arabia with 3.5 thousand tons (14%), Switzerland with 3.4 thousand tons (13%), USA with 3.3 thousand tons (13%) and Japan with 2.5 thousand tons (10%).

Spain was the largest exporter. It sent 7.1 thousand tons of honey to countries outside the EU, which amounted to (29% of all exports of this product from the EU). It is followed by Germany with 5.5 thousand tons (22% of all exports), Romania with 1.7 thousand tons (7%), Hungary with 1.6 thousand tons (6%) and Greece with 1.5 thousand tons (6%).


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More than 4 thousand companies opened by 14 Ukrainians over past four years. Where are most mass entrepreneurs in Ukraine?

More than 4 thousand companies have been founded by 14 Ukrainians over the past four years, according to the Unified State Register (USR). Each of these serial entrepreneurs accounts for more than 100 companies. The record holder among Ukraine’s serial entrepreneurs is opening 3-4 new companies a day in 2024. And the largest mass founder of companies is TAYKUN AP LLC – 532 companies.

4003 companies were created by 14 mass founders in Ukraine over the past four years. Opendatabot considers individuals and legal entities with 100+ companies to be mass founders. It is worth noting that one company may have more than one mass founder, and companies may change founders over time.

A record number of companies was created by Vitaliy Ilnytsky – 1399 businesses since the beginning of 2020. It is worth noting that this businessman confidently maintains his leadership this year. Since the beginning of the year, he has been opening about 3-4 companies a day: 507 companies in five months.

Serhiy Seko is in second place: according to the USR, he is the founder of 810 companies. Vitalii Tretyak rounds out the top three serial entrepreneurs: 436 companies over the past 4 years.

Almost half of the mass founders register companies in Kyiv – 1766 businesses or 44.1% of the total. Other popular regions among serial entrepreneurs are Lviv (8.4%), Kyiv (7.6%), Odesa (5.8%), and Dnipro (4.3%).

30.7% of companies created by mass founders are in the wholesale trade sector. Another 6% are in the field of land and pipeline transportation and 5.5% in the field of security services.

Serial entrepreneurs are not only people but also other companies. For example, 7 companies created another 2019 businesses in the same period. The leader among legal mass founders is TAYKUN AP LLC – 532 companies.

ALTON OBJECT LLC became another mass founder among legal entities – 332 companies. BUSINESS INNOVATION LLC is on the third place: 305 companies.

77% of these companies are established in Kyiv and Kyiv region.

Among these companies, the most popular areas are also wholesale trade (46.5%) and construction (7.5%).

Attorney Denys Popov notes that a large number of registered businesses owned by one person or company can be an alarming sign – it is worth checking the reputation and information about such a company before interacting.

“By law, any citizen or company can register an unlimited number of businesses. At the same time, this allows unscrupulous businesses to register companies for fictitious persons who will not be responsible for the company’s obligations in the future. Most often, this trend is found in businesses that are preparing for bankruptcy in advance or in one-day companies that do not aim to actually do business,” comments Denys Popov, attorney, insolvency officer, legal engineer at Opendatabot.

All links to companies and entrepreneurs:


Germany is ready to transfer proceeds from frozen Russian assets to Ukraine

Germany is ready to quickly redirect proceeds from frozen Russian assets to help Ukraine, Reuters reports.

“If there is a legally possible mechanism that will allow us to better manage these financial flows from frozen assets in the future, we are definitely open,” the publication quotes its sources in the German Ministry of Finance as saying.

At the same time, Reuters reports that Germany insists that it is ready to confiscate only the income from Russian sovereign assets, not the assets themselves. According to the German Ministry of Finance, this approach will allow to comply with the fundamental principle of sovereign immunity of states.

It is reported that next week this issue will be discussed at a meeting of the G7 finance ministers in Italy, to which Ukraine has also been invited.