Year of major privatisation on Prozorro.Sales: state earns over UAH 8.9 billion

Following the first year of online auctions for major privatisation on the state electronic trading system Prozorro.Sales, the Government has received UAH 8.9 billion. This result stems from the sale of four assets.

The first lot sold under major privatisation was the Ukraine hotel in Kyiv. Three bidders competed, driving the asset’s value from UAH 1 billion to over UAH 2.5 billion.

The auction for the United Mining and Chemical Company saw only one participant register. The Cabinet of Ministers and the Antimonopoly Committee permitted this sole bidder to acquire the asset for over UAH 3.9 billion.

Among the successfully sold lots were two sanctioned assets. The aerated concrete plant Aerok attracted three competitors, nearly doubling the price to almost UAH 1.9 billion. The price for Vinnytsiapobutkhim also doubled, with two bidders pushing the final value to over UAH 608.1 million. Proceeds from the sale of sanctioned assets were directed to the Fund for Liquidating the Consequences of Armed Aggression.

“Major privatisation is an effective mechanism for converting state assets into financial resources. It not only generates significant budget revenues but also fosters the development of enterprises that benefit the economy. The successful privatisation of iconic assets like the Ukraine hotel, the United Mining and Chemical Company, the Aerok plant, and Vinnytsiapobutkhim demonstrates tangible results for the state. We are not resting on our laurels and are already preparing for future auctions that will ensure substantial financial inflows,” emphasised Ivanna Smachylo, Acting Head of the State Property Fund.

As of 18 September, two auctions for major privatisation with a combined starting value of nearly UAH 4.8 billion have been announced on the system.

Anyone, except those linked to the aggressor country, may bid for the right to purchase the Odesa Port Plant and the sanctioned asset Motordetal-Konotop.