Business news from Ukraine

BUSINESS INITIATIVES BUYS KOZLIV DISTILLERY AT AUCTION FOR UAH 59 MLN

Kozliv distillery (Ternopil region) of the state-owned enterprise Ukrspyrt at an online auction on Friday, November 13, was acquired by Business Initiatives LLC (Kyiv) for UAH 59 million.
According to the information on the website ProZorro.Sales, the starting price of the distillery was UAH 37.57 million. The facility was put up for auction for the first time. Two companies took part in the auction.
The daily production capacity of the enterprise is 4,200 decaliters of alcohol. It was founded in 1772, and modernized in 2020. Production at the distillery is temporarily suspended.
According to the unified public register of legal entities and private entrepreneurs, Tetiana Maksymova is the ultimate beneficiary of Business Initiatives LLC. The company is engaged in consulting on informatization issues.

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STATE PROPERTY FUND OF UKRAINE TO ANNOUNCE AUCTION FOR SALE OF DNIPRO HOTEL IN APRIL

The State Property Fund of Ukraine (SPF) will announce an auction for the sale of the Dnipro Hotel located downtown Kyiv in April 2020, Head of the SPF Dmytro Sennychenko said on Facebook on Thursday, March 12. According to Sennychenko, the SPF, together with the new hotel management, are carrying out financial and technical audit at the facility.
“We have intensified preparations for the auction, that will allow us to start the auction in April and find a new owner for the hotel in May,” he reported.
The SPF head said, the net financial result of the Dnipro Hotel amounted to UAH 146,000 in the end of 2019.
As reported, the starting price of the hotel will be $10 million.
Earlier, the SPF appointed Elina Sapozhkova as the new director of the Dnipro Hotel.

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LIST OF 20 LARGEST ENTERPRISES, PUT OUT BY UKRAINE FOR AUCTION IN DECEMBER 2019

List of 20 largest enterprises, put out by Ukraine for auction in December 2019

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SLOVAKIA’S NAFTA WINS AUCTION TO DEVELOP OIL AND GAS FIELD IN UKRAINE

Nafta RV LLC, a subsidiary of Slovakia’s Nafta, has won an electronic auction to receive a license for developmet of the Vantazhkivske oil, gas field (Poltava region), according to information on the ProZorro.Sale platform. During the auction held last Wednesday, Nafta RV offered UAH 6.846 million for the license compared with Optima Resource private enterprise, which stopped at the starting price of UAH 6.795 million.
After registering the required documents, Nafta RV will receive a subsurface site for geological exploration and further research and development for a period of 20 years.
According to the materials of the auction, prospective gas resources of category C3 at the Vantazhkivske field were estimated at 3.091 billion cubic meters. It is recommended to drill two exploratory wells with a depth of 5,700 meters and 6,300 meters.
Nafta’s main shareholder is EPH holding of Czech businessman Daniel Křetínský.

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ALFA-BANK BUYS POOL OF DELTA BANK’S MORTGAGE LOANS AT AUCTION FOR UAH 44 MLN

Alfa-Bank at an auction held on the ProZorro.Sales platform on September 17, 2019 bought the largest pool of assets – mortgage loans of Delta Bank (both based in Kyiv) with the balance-sheet value of over UAH 1.3 billion for UAH 44.14 million, according to information posted on the ProZorro.Sales platform.
Director of the department of consolidated sales of assets at the Deposit Guarantee Fund Taras Yeleiko said on his Facebook page that with a starting price of the lot of UAH 48.4 million, bids initially fell to UAH 33.8 million, but later during the competition between bidders increased to UAH 44 million.
According to him, the pool consisted of 60% of assets located in Kyiv region, 40% of the assets located in Central and Western Ukraine.
Five companies submitted bids for this pool.
“The increase in the number of bidders and their willingness to increase the price offer indicates a revival of the market interest in such assets,” Yeleiko said.
According to him, companies with foreign capital also participated in the auction.

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UKRAINIAN GUARANTEE FUND TO REPEAT AUCTION ON DEBTX ON SEPTEMBER 24 TO SELL SEAPORT, OIL & FAT COMPLEX IN ILLICHIVSK

Deposit Guarantee Fund will hold a repeated auction on September 24 to sell liabilities on credit agreements of Delta Bank on the Debt Exchange, Inc. (DebtX, Delaware) increasing the starting price up to UAH 4.98 billion (5.7 times).
Oil and fat complex in Illichivsk and infrastructure in the Chornomorsk seaport are the parts of poll of assets of Delta bank, the fund reported on its website.
“The bids will run under the Dutch scheme [on lowering price],” the Deposit Fund said.
The asset pool includes legal claims (15 items), property rights under credit agreements (seven items) and receivables.
On July 9, the executive directorate of the Deposit Guarantee Fund annulled the results of an open auction to sell liabilities on credit agreements of Delta Bank with the book value of UAH 4.85 billion ($182 million) on the Debt Exchange, Inc. (DebtX, Delaware) for UAH 182.5 million with the starting price of UAH 868.8 million, taking into account decision of the National Bank of Ukraine (NBU) made on July 8, which annulled the results of the auction.
The NBU on July 8 revoked its decision made on April 9, 2019 approving the sale of the oil and fat complex in Illichivsk and infrastructure in the Chornomorsk seaport used as collateral for credits issued by Delta Bank over possible abuse by the buyer – Sky financial company, the beneficiary of which is the co-owner of Kernel Andriy Verevsky.
The price of the same assets at a similar auction held March 6 of this year amounted to UAH 906.2 million with the same buyer, but the district administrative court locked the deal under the suit of a company, which did not participate in the bidding.
According to the NBU, the auction was held with the presence of circumstances and possible manipulations on the part of the buyer, which could affect the outcome of the auction and the sale of the property at a lower price. According to the NBU, for three months the assets could not depreciate several times.

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