The auction commission of the State Property Fund (SPF) has set the starting price and conditions for the privatization of 100% of shares in Ukrbud Construction Company, the SPF press service reports.
It is reported that the auction commission chaired by Deputy Head of the SPFU Igor Tymoshenko, taking into account the legal requirements, set the starting price of the sale at UAH 262.646 million.
The conditions for privatization of the state-owned stake in Ukrbud construction company were also developed. In particular, the new owner must maintain the company’s core business, pay off wage and budget debts within 6 months, pay off overdue debts (except for sanctioned creditors), and transfer dividends to the state budget for 2024-2025. For employees, the new owner must provide social guarantees, prevent dismissals within six months, and conclude a new collective bargaining agreement after the current one expires.
In the near future, the Fund will submit the terms of privatization and the starting price of the stake in Ukrbud Construction Company to the government for approval.
Ukrbud Construction Company is engaged in the design of industrial and civil facilities, construction and installation works, training and retraining of workers for the needs of the construction industry.
It includes 10 subsidiaries, including design institutes and training centers.
According to the company’s annual reports, revenue for 2023 amounted to UAH 105.2 million, which is 2.5 times higher than the results for 2022, while the net loss for 2023 amounted to UAH 3 million 53 thousand against a net loss of UAH 3 million 215 thousand in 2022.
