Business news from Ukraine

State Property Fund of Ukraine has sold Odessa Research and Design Institute of Land Management for 25.8 mln UAH

The State Property Fund (SPF) realized at the privatization auction SE “Odessa Research and Design Institute of Land Management” for 25.8 million UAH, said the head of the agency Vitaly Koval.

“The price for EMK SE “Odessa Research and Design Institute of Land Management” increased in 5.17 times. Almost from UAH 5 million to the victorious UAH 25.8 million,” he wrote in Telegram.

The buyer is also obliged to pay an additional UAH 5.16 million of VAT. Accordingly, the total economic effect from the privatization of the enterprise will be 30.96 million UAH.

The complex of the Institute is located in the center of Odessa. The new owner will receive a share of 81/100 of the engineering and laboratory building with utility buildings and structures, motor vehicles and other property.

According to the terms of sale, the buyer is obliged to repay overdue accounts payable and not to allow the dismissal of employees within six months.

 

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