State Property Fund sells Kryvbasproekt for UAH 54.3M

The State Property Fund of Ukraine sold the State Institute for Design of Mining Enterprises Kryvbasproekt for UAH 54.3 million; the starting price was almost doubled.

The SPFU press service reported this on Facebook, according to Ukrinform.

"UAH 54.3 million is the final bid for the State Institute for Design of Mining Enterprises Kryvbasproekt. Two entrepreneurs competed for the asset. Following the bidding, the value almost doubled," the report says.

The lot included 33 real estate units in Kryvyi Rih, with a total area of 14,967 square meters and 15 vehicles.

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Apart from the winning bid, the investor must pay UAH 10.9 million in VAT and UAH 3.6 million in company debts. The investor must also retain the company's staff for six months.

According to the SPFU, the company suffered UAH 5.4 million in losses in 2022, and UAH 1.4 million in losses in the first half of 2023.

As reported, the SPFU attracted UAH 2.7 billion to the state budget from privatization in January-September 2023.