State-owned LLC “Land Bank” transferred UAH 369 million in dividends to the state budget based on its 2025 performance, representing 95% of the company’s net profit, the operator’s press service reported on its Telegram channel.
According to the report, this figure is one of the highest in terms of profit return to the state among enterprises under the management of the State Property Fund of Ukraine (SPFU).
“This is an example of how state assets can function as a fully-fledged economic instrument. The Land Bank proves that instead of passive holding, the state can achieve tangible financial results,” emphasized SPFU Chairman Dmytro Natalukha.
According to the CEO of State Land Bank LLC Yaroslav Yaroslavsky, based on last year’s results, the company made it onto the list of major taxpayers, ranking 12th among state-owned enterprises by revenue alongside giants such as “Naftogaz,” “Ukrenergo,” and “Ukrzaliznytsia.”
The “Land Bank” is a state-owned operator established to manage agricultural land through a long-term lease mechanism. 100% of the company’s shares are owned by the state, represented by the State Property Fund of Ukraine.
The project was officially launched in 2024 to consolidate state-owned land and sell it through online auctions on the “Prozorro.Sales” platform. The first auctions for land leases began in the fall of 2024, allowing the operator to achieve significant financial results in its very first full year of operation. According to the State Property Fund of Ukraine, the company currently manages over 100,000 hectares of land.
The Antimonopoly Committee of Ukraine (AMCU) has granted permission to Agroton Public Limited (Nicosia, Cyprus) to acquire control over the agricultural limited liability company (LLC) “Mriya.”
According to the AMCU’s announcement, control will be established through the direct acquisition of shares, ensuring a majority of more than 50% of the votes in the company’s highest governing body. The decision was made following the review of an application dated February 2, 2026 (No. 15-01/215-EKk).
Agroton Public Limited is the holding company of the “Agroton” group—a large, diversified, vertically integrated agricultural producer. The group’s primary beneficiary is Yuriy Zhuravlev.
As reported, in March 2026, the AMCU also granted Agroton Public Limited permission to acquire control over PAOP “Zorya” (Berestynsky District, Kharkiv Region), which previously belonged to American businessman George Ror through LLC “Charivny Svitanok (Agro).” The enterprise specializes in crop farming and dairy farming.
“Agroton” has been operating in the Ukrainian market since 1992 and, prior to the full-scale Russian military invasion, specialized in growing grain and oilseed crops, as well as the production and sale of livestock products. Before the war, Agrotone’s land bank consisted of approximately 110,000 hectares in the Luhansk and Kharkiv regions. The group also owned two poultry farms in the Luhansk region. However, according to the report for the first half of 2024, the area of land leased by the company from private individuals was zero.
In 2022, Agroton reported that representatives of the so-called “LPR” and JSC “Agrokompleks named after M.I. Tkachev” (Russian Federation) “seized” all assets of its parent company, Agroton Public Limited, in the Luhansk region on May 21, 2022. According to the Luhansk Regional Military Administration (RMA), Russian occupiers, with the participation of collaborators, stole 20,000 tons of grain from Agroton’s elevators, harvested 200,000 tons of the 2022 crop from its fields, and transported it to the Russian Federation. In addition, the invaders stole 40 vehicles and transported them to Russia.
Yuriy Zhuravlev, the majority owner and CEO of the Agroton agricultural group, who owned 85.4% of the shares in the parent company Agroton Public Limited (Cyprus) as of mid-2024, purchased an additional 2.09% (453,024 shares of the company) in November 2024, increasing his stake to 87.49%. As the company reported to the Warsaw Stock Exchange, the purchase took place on the over-the-counter market.
The Land Bank project has put 21 plots of land in six regions of Ukraine up for sublease auction in the Prozorro.Prozori system for the establishment of perennial plantations, the project announced on Facebook.
According to the announcement, the sublease term for the proposed plots for planting orchards is 25 years, and their areas range from 0.14 hectares to 91.40 hectares.
The largest number of lots is in the Zakarpattia region — 10 plots ranging in size from 0.40 to 26.87 hectares. Bidding will begin on February 27.
In the Mykolaiv region, five plots are offered for sublease, one of which is the largest lot for planting a garden (from 17.58 to 91.40 hectares, auctions from March 11). In the Poltava region, three plots ranging in size from 3.61 to 21.80 hectares are offered for sublease (auctions on March 12 and 18). One plot each is offered in the Sumy (27.74 hectares, March 13), Kyiv (2.26 hectares, March 23), and Dnipropetrovsk (0.14 hectares, March 6) regions.
As reported, since its launch on October 1, 2024, the Land Bank project has sold more than 60,700 hectares of state-owned land in 19 regions of Ukraine at auction, of which 57,400 hectares have already been transferred to farmers for use.
The OKKO group of companies, together with its agribusiness partner Gadz-Agro LLC (Ternopil region) have expanded their land bank to 50,000 hectares and will increase it to 100,000 hectares by 2030, while the number of cows will be increased from 11,000 to 15,000, OKKO Group CEO Vasyl Danylak said in an interview with Forbes Ukraina.
He recalled that OKKO entered the agricultural business in 2023 and offered the owner of Gadz-Agro to build a biogas plant near his cowsheds. However, he proposed another option for cooperation – to enter into a partnership and develop together.
“We entered into a 50/50 partnership with Gadz Agro. They are a long-standing client with whom we worked on an agricultural financing program. (…) At that time, it was a company with 26,000 hectares of land and 9,500 cows – a large company with a remarkable owner,” said Danylak.
The CEO of OKKO reported that in 2024, the agricultural business expanded its land bank by almost 6,000 hectares and invested in cowsheds. Currently, the joint ownership includes 32,000 hectares of land and 11,000 cows, which produce 188 tons of milk per day. During 2025, OKKO and Gadz-Agro consolidated more than 17,000 hectares.
“This business fits organically into our structure – we supply fuel and fertilizers there, and we get meat for our workshops and grain for our traders from there,” explained Danilyak.
According to him, OKKO Group and Gadz-Agro plan to increase their land bank to 100,000 hectares by 2030, have 15,000 cows, and build a biogas production facility.
“The idea is for this business to be self-sufficient and pay dividends. (…) In terms of return on investment, agriculture and petroleum products are roughly equivalent businesses. But the investment opportunities are different. We have the opportunity to invest in agriculture, but not in expanding the network,” Danilyak noted.
At the same time, the CEO of OKKO expressed confidence that agribusiness in Ukraine will grow in the foreseeable future, while the petroleum products market is unlikely to do so. “A growing market forgives mistakes. A falling market does not forgive mistakes,” he stressed.
Responding to a question about the specifics of doing business with a partner in the agricultural sector, Danilyak clarified that OKKO and Gadz-Agro are represented by two representatives each on the supervisory board. He added that OKKO GROUP does not plan to invest in port logistics for the export of agricultural products.
OKKO Group unites more than 10 diverse businesses in the fields of manufacturing, trade, construction, insurance, services, and other services. The group’s flagship company is Galnaftogaz, which operates one of the largest petrol station chains in Ukraine under the OKKO brand, with almost 400 petrol stations.
The founder and ultimate beneficiary of the group is Vitaliy Antonov.
Financial-industrial group TAS plans to invest at least $30-40 million in the development of its own production and land bank in 2024, TAS Group founder Serhiy Tigipko said in an interview with Forbes-Ukraine on Wednesday.
“So far we are looking at what gives synergy. This is our own production, primarily in Ukraine. But we are watching the market, if any interesting enterprises will appear. We are definitely ready to invest in agriculture – in the land bank, first of all. This is a strategy for us,” he said.
Tigipko added that he is looking out for investments in processing, which the group has not yet engaged in. “Where exactly we will go, we do not know yet to the end,” – said the founder of the group “TAS”.
The businessman also said that among the plans for 2024 is to increase the production of apple concentrate.
“We want to increase the export volume of apple concentrate. We plan to invest in one of the two plants, and if everything succeeds, to double production,” Tigipko added.
At the same time, according to the founder of TAS Group, logistics currently “eats up” a large share of funds. He noted that his own logistics company mitigates the situation, but the issue of logistics remains complicated, so the group is studying the possibility of acquiring a European transportation company.
“We are considering buying a European transportation company. This will allow to link the supply chain for the client – both in Ukraine and the EU,” he said.
Financial and industrial group “TAS” was founded in 1998 by businessman Serhiy Tihipko. Its business interests include the financial sector (banking and insurance segments) and pharmacy sector, as well as industry, real estate and venture projects.
The State Property Fund of Ukraine (SPF) has presented a website dedicated to the launch of the Land Bank with the publication of answers to the main questions on land relations, as well as a map with the lands that will be accumulated in the Land Bank.
According to the FGI website, the law launching a transparent lease of state-owned agricultural land through online auctions was adopted by the Verkhovna Rada on July 27, obliging the Fund to create a Land Bank.
“The main goal is to fight corruption on state-owned agricultural land. Every year, unscrupulous managers of state-owned agribusinesses leased state land to businesses under “gray” schemes. In their pockets got tens of millions of dollars of cash, and the state – losses,” – quoted the press service of the head of the FGI Rustem Umerov.
It recalled that about 700 thousand hectares of state farmland for years did not bring funds for the budget and citizens. FGI intends to change this by accumulating information about them in the Land Bank and will subsequently lease through open online auctions on the electronic platform Prozorro.
“The new investment product will allow each Ukrainian to start their own business, transparently and openly leasing a land plot through an online auction “, – emphasized in the FGI.
According to preliminary calculations, the expected economic effect from the introduction of transparent land lease will be up to 7 billion UAH per year.
The first auctions will be held in 2024.
