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Funds from privatization of Bilshovyk plant received by state budget – SPF head
KYIV. Dec 7 (Interfax-Ukraine) – Funds from the privatization of JSC First Kyiv Machine-Building Plant (formerly the Bilshovyk plant) in the amount of UAH 1.42 billion have been received by the state budget, Head of the State Property Fund of Ukraine (SPF) Dmytro Sennychenko said on Facebook on Tuesday.
At the same time, he said that the buyer will also pay off the debts of the state-owned enterprise, amounting to more than UAH 500 million.
"The result of the SPF team for 2020-2021 is UAH 8.1 billion. This is more than in the previous seven years," the head of the SPF said.
As reported, JSC First Kyiv Machine-Building at a privatization auction was acquired by a consortium of investors, including the owner of A Development Oleksiy Baranov and UDP company managed by Andriy Ivanov. The winner of the auction was General Commerce LLC with an offer of UAH 1.429 billion.
The starting price was set at UAH 1.39 billion. According to the privatization conditions, the new owner shall pay off the debts of the plant to the labor collective, the state budget and other creditors (now the debts amount to more than UAH 500 million), fulfill the current collective agreement and prevent the dismissal of workers within a certain period.
In addition, the buyer needs to invest at least UAH 57 million in the modernization of the enterprise over three years, to preserve part of the existing production potential at the site in Kyiv or Zhashkiv (Cherkasy region), or at other production facilities in Ukraine.
