Business news from Ukraine

State Property Fund of Ukraine has scheduled repeat auction for sale of Belhorod-Dnistrovskyy port

The State Property Fund (SPF) of Ukraine has scheduled a second auction for the sale of Belgorod-Dnistrovsky Commercial Sea Port (BSP) for August 15 with a starting price of UAH 92.45 million.

According to the FGI website, the auction previously scheduled for June 14, before which the starting price of the object was halved to 92.46 million (excluding VAT), was not held due to the lack of bidders.

The winner of the previous auction for the sale of Belgorod-Dnestrovskyi ICC, which took place on March 13, Ukrdoninvest LLC of businessman Vitaliy Kropachev refused to buy the port at the stage of agreeing the terms of the sale and purchase agreement with the regional department of the Federal State Property Management Agency for Odessa and Mykolayiv regions. The company specified that the sale price of the port at the auction, which it won was UAH 264.12 mln (including VAT). It was also reported that Ukrdoninvest did not demand the return of the guarantee fee in the amount of UAH 18.76 million.

The FGI reported that it will re-run the privatization auction for the sale of “Belgorod-Dnistrovskyi ICC” in connection with the recognition of the auction at which it was sold to “Ukrdoninvest” failed: the winner of the auction did not contribute funds for the object, the press service of the Fund reported.

The first auction for the sale of the port with a starting price of UAH 187.57 million, scheduled for March 3, was not held.

Earlier, the FGI noted that the port of Belgorod-Dnistrovsky founded in 1971 is unprofitable, but since 2022 the enterprise “plays an important role in ensuring world food security as a logistics center for ports on the Danube”. In the first quarter of 2023, the port’s total revenue amounted to UAH 7.391 million. At the same time, the loss for this period amounted to – UAH 4.45 million. The amount of overdue accounts payable as of March 31, 2023 – UAH 118.7 million, including wage arrears – UAH 11.5 million. The total debt on wages and payments to the budget amounts to UAH 96.37 mln, including penalty of UAH 1.7 mln.

In 2022, Belgorod-Dnistrovsky ICC received 63 thousand UAH of profit against losses of 28.5 million UAH in 2021 and 25.2 million UAH in 2020.

The port provides loading and unloading services for the main cargo nomenclature: timber cargo, mineral fertilizers, iron ore pellets, metal products. It works with timber and grain cargoes destined for export.

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“Elektronmash” sold at auction for 121 mln UAH

The regional department of the State Property Fund in Kiev sold at auction a single property complex of SE “Elektronmash” (Ring Road, 4) for nearly 121 million UAH, while the two previous failed auctions for its sale could bring the budget 970 million UAH and 430 million UAH.
“Despite the air raid and rocket attacks, the auction to privatize the Electronmash plant took place. Another advantage of electronic bidding on the platform “Prozorro. Sales” platform – entrepreneurs can compete for assets while in hiding,” the press service of the State Property Fund said.
According to the press release, a single property complex was put up for privatization, totaling 110.7 thousand square meters. m of real estate and more than 200 thousand square meters. m of land. In the capital, Electronmash has 36 pieces of property, including shops and administration buildings. The company has 31 vehicles and a recreation base in the village of Sokolovka, Chernigov region.
In the auction was attended by 6 entrepreneurs. The final bid at the auction almost doubled.
The winner was LLC “Incom Rent” with a bid of 120.81 million UAH. As reported in the release, in addition to the winning bid the winner must pay the VAT – 24.2 million UAH and more than 23 million UAH of the debt to employees and the state budget.
The winner has 20 working days to pay the cost of the lot.
According to Youcontrol, LLC “Incom Rent” was founded in 2018, the authorized capital is 1 thousand UAH. The founders of the company are AMC Arivo Asset Management LLC in the interests of PVNZIF Arivo Corporate (60%) and Plates-1 LLC (40%). Lyudmila Yakovleva and Oleg Magalyas are named as beneficiaries.
The second highest bidder at the auction was BSK GROUP LLC – UAH 120.777 million. According to Youcontrol, the company was founded in 2013 with a share capital of 1 thousand UAH. The ultimate beneficiary is indicated as Oleksandr Sokor.
As reported, this is the third attempt to privatize Elektronmash. The previous two auctions for its sale could bring significant investments into the budget – UAH 970 million and UAH 430 million, but unscrupulous investors did not complete the purchase within the prescribed period.
Electronmash” SE (previously – State Scientific Production Enterprise “Electronmash”) was created on the basis of the plant of electronic computing and control machines, which since 1965 provided the Soviet Union with the computing equipment.
In recent years it showed significant damage. In 2022, Elektronmash suffered 8.2 million hryvnias in damages, in 2021 it suffered 24 million hryvnias and in 2020 it suffered 10.9 million hryvnias. The number of employees at the plant is decreasing: if in 2020 there were 175 employees, in 2021 there will be already 149, and in 2022 there will be 127.
At present, the main specialization of the plant is the production of electric motors, generators and transformers, as well as metalwork turning services.
In recent years, it has produced, in particular, automatic gas metering systems, commercial metering and payment systems for energy resources and utilities.

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Auction house Sotheby’s put up for auction items of Michael Jordan, Pele and other famous athletes

The auction house expects to gain $ 2-4 million for the sneakers, which played Jordan in one of the games of the final of the National Basketball Association (NBA) in 1998, and $ 100-200 thousand for the shirt in which Pele made his debut for the “New York Cosmos” in 1975.
The basketball player’s sneakers could become the most expensive in history, surpassing the $1.8 million Air Yeezy rapper Kanye West sold for in 2021.
In addition, with an estimate of $400,000 to $600,000, a warm-up jersey of basketball player Kobe Bryant is up for auction. He wore it on the day of the game, where he scored 81 points (the second highest score in NBA history).
In addition, at the auction Victoriam you can buy things tennis players Rafael Nadal and Roger Federer and basketball with the autographs of Bryant and the former U.S. president Barack Obama.
The auction ends April 11.

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Schumacher and Alesi bikes sold at auction for 5 million euros

The Formula 1 cars of Michael Schumacher and Jean Alesi were sold for €1.3m and €3.66m respectively.
Both cars were sold at an auction in Paris. Schumacher’s Jordan 191 is not just the car in which the seven-times world champion drove – it was the first Formula 1 car he ever drove. In 1991, the German replaced Bertrand Gachot, who had been jailed for spraying in the face of a cab driver the year before.
Schumacher had never competed in a Formula 1 grand prix before, but managed to qualify seventh, beating teammate Andrea De Cesaris. The race itself was less successful, with him losing the race on the first lap due to technical problems, but it paved the way for the future champion to enter Formula 1.
The Jordan 191 was sold just 18 months ago, but earlier this year it was revealed that the car would return to auction.
Despite the historic value of the Jordan 191, the most expensive car at the auction was a Ferrari 643, which went under the hammer for 3.66 million euros. The car was driven by French racer Jean Alesi in 1991 and he only managed to win one Formula 1 grand prix during his career.
The Ferrari 643 was introduced mid-season and was not a car capable of winning the championship. Alesi’s teammate, four-time champion Alain Prost was even fired before the last race of the season because he publicly stated that driving this car was the same as driving a truck.

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Tyrannosaurus Rex skeleton auction canceled, some bones turned out to be fake

British auction house Christie’s has canceled the sale of a Tyrannosaurus-rex skeleton worth about $15 25 million after suspicions that some of the bones were far from original.
“After consultation, Christie’s auction house decided to recall the lot. The consignor has now decided to release the specimen to the museum for all to admire,” said a representative of the auction house.
The representative Christie’s did not specify the reason for this decision, but the problem may lie in the fact that some of the bones of the skeleton named Shen are actually replicas of bones of another dinosaur. President of the Black Hills Institute for Geological Research and paleontologist Peter Larson said that some parts of Shen are remarkably similar to parts of Stan, another Tyrannosaurus rex skeleton that went under the hammer at Christie’s for a record $31.8 million in 2020. Larson suggested that Shen’s owner supplemented some of the skeleton’s missing bones with casts of Stan’s bones.
“They are using Stan to sell a dinosaur that is not Stan,” Larson said.
The Black Hills Institute for Geological Research owns the intellectual property rights to Stan, despite his sale in 2020, and is selling painted polyurethane skeleton casts for $120,000.
The U.S. Museum of Natural History at the Field Museum, one of the largest museums in the United States. Field, one of the largest natural history museums in the world, said it is very difficult to find an entire dinosaur skeleton. In most cases, in the skeletons exhibited in museums, some of the bones are casts.

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An auction will be held in London where first edition of Harry Potter, Darth Vader gloves and many other artifacts will be put up

The first hardcover edition of Harry Potter and the Philosopher’s Stone could go under the hammer in the UK for £150,000 (about $160,000).
Along with the first part of the wizarding saga, the “magic wand” that actor Daniel Radcliffe, in the form of Harry Potter, used during the filming of the film of the same name, will be put up for auction. The props are expected to sell for £30,000 ($32,000).
The auction is organized by Propstore, a collection company that collects movie and TV show props. It will take place from 3 to 6 November in London and is expected to sell about 1.5 thousand lots. The total revenue could exceed 11 million pounds (nearly $12 million).
Among the most expensive items are items such as the Superman costume worn by actor Christopher Reeve during filming in 1978-1987 and the Darth Vader gloves worn by David Prowse in Star Wars. Episode IV: A New Hope”.
The Propstore Auction will sell props from the James Bond movies, the Marvel and DC franchises, as well as movies like The Shawshank Redemption and Gladiator.

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