Aeroc Plant sold through privatization auction for UAH 1.89B

On December 19, 2024, the Ukrainian State Property Fund sold the nationalized enterprise, Aeroc LLC, through privatization auction for UAH 1.89 billion.

The relevant statement was made by the Ukrainian State Property Fund on Facebook, an Ukrinform correspondent reports.

“Today, an online large privatization auction for the sale of the state-owned share in the amount of 100% in the authorized capital of Aeroc LLC has been held with the final result of UAH 1.890 billion. Three bidders were competing for the ownership rights to this object,” the report states.

During bidding, the starting price increased almost twofold.

In accordance with the terms of sale, the buyer shall maintain the core activities of the enterprise, repay the salary and budget debts within the next six months, as well as the company’s overdue accounts payable, comply with social guarantees and prevent the dismissal of employees within six months from the acquisition date.

As noted by Ukrainian State Property Fund Acting Head Ivanna Smachylo, following the privatization procedures, the owner will be able to invest in the enterprise, developing the industry, generating additional revenues for the state and local budgets, and providing new jobs.

The funds received from the sale of the above enterprise will be directed to the Fund for Elimination of the Consequences of Armed Aggression.

A reminder that Aeroc LLC is one of Ukraine’s largest producers of gas-concrete products, whose production facilities are situated in the Kyiv and Lviv regions. The enterprise used to belong to sanctioned Russian oligarch Andrey Molchanov, and was seized in 2022. In 2023, the High Anti-Corruption Court of Ukraine (HACC) transferred the enterprise to the Ukrainian State Property Fund.