UMCC sold through privatization auction for more than UAH 3.9B
The relevant statement was made by the Ukrainian State Property Fund on Facebook, an Ukrinform correspondent reports.
“The team of the Ukrainian State Property Fund has held an online privatization auction to sell the state-owned block of shares in the amount of 100% of the authorized capital of United Mining and Chemical Company (UMCC) JSC. Bidding took place in the Prozorro.Sale e-auction system. The winning bid came to UAH 3,938,351,581,” the report states.
The winning bidder was Cemin Ukraine LLC, whose owner is the Azerbaijani entrepreneur, Nasib Hasanov. Hasanov’s NEQSOL Holding consists of energy, telecommunications, construction and high technology companies, such as Bakcell, Vodafone Ukraine, Azercell Telecom, Caucasus Online, Nobel Oil Group, Nobel Upstream, etc.
Cemin Ukraine LLC became the sole bidder for the privatization of UMCC JSC.
According to the approved terms of sale, the buyer will maintain the main activities of the enterprise, invest at least UAH 400 million in technical re-equipment and modernization, as well as repay the wage arrears of the enterprise, its debt to the budget, and overdue payables.
Photo: UMCC’s archive
