The Cabinet of Ministers has approved the terms of privatization of the state-owned stake in cosmetics and household chemicals manufacturer Vinnitsabytkhim, as well as its starting price of UAH 301.4 million, according to the press service of the Ministry of Economy.
According to the report, the new owner of Vinnytsiabythim must maintain the company’s core activities and not allow any layoffs during the first six months.
In addition, they must pay wage arrears and debts to the budget within six months, repay overdue accounts payable (except for debts to sanctioned entities), and comply with environmental legislation.
Vinnitsabytkhim is included in the list of large privatization objects.
As reported, on July 31, 2024, the High Anti-Corruption Court (HACC) upheld the Ministry of Justice’s claim to impose sanctions on the Russian company Nevskaya Kosmetika in the form of confiscating 100% of the shares of the Ukrainian company Vinnytsia Bytkhim to the state.
In July 2022, the seized assets of Vinnytsiabythim were transferred to the National Agency for the Identification, Investigation, and Management of Assets Derived from Corruption and Other Crimes (ARMA).
Following a competitive selection process in July 2023, the right to resume operations and become the asset manager of Vinnytsiabytkhim was granted to Kraitex-Service LLC, whose beneficiaries, according to Opendatabot, are Ruslan Shostak and Valery Kiptik, co-owners of the EVA and Varus chains. Later, Kraitex-Service announced that it would invest UAH 400 million in launching production at Vinnytsiabytkhim.
ARMA terminated its management of the asset in April 2025 and transferred it to the State Property Fund of Ukraine for further disposal. According to the National Agency, during the period of management of the seized asset, almost UAH 100 million was transferred to the state budget.
