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Govt allows repeatedly putting UMCC up for sale on same terms, Rada expects auction to be held in Oct
KYIV. Aug 30 (Interfax-Ukraine) – The repeated auction for the sale of the United Mining and Chemical Company (UMCC) will be held with a starting price of UAH 3.7 billion and on the same terms as originally announced in June this year.
The relevant amendments to the procedure for the sale of large privatization objects for the period of COVID-19 quarantine were introduced by the Cabinet of Ministers by Resolution No. 906 dated August 26, published on its website.
According to Deputy Head of the parliamentary committee for economic development Roksolana Pidlasa (the Servant of the People parliamentary faction), the new auction will be scheduled for October by the decision of the auction commission, which meets this Monday.
The deputy, citing sources, said on Facebook that out of the three applicants who submitted their bids for the first auction, one is associated with Dmytro Firtash, a former tenant of the mining and processing plants of the UMCC, which has the largest assets in the titanium industry in Ukraine among private companies.
"Another of the contenders is an unknown Ukrainian LLC, behind which there is no systemic investor," Pidlasa added.
She said that two out of three applicants failed to submit a full package of documents, and one did not even make a mandatory contribution to participate in the auction, so both were disqualified, which led to the cancellation of the auction.
As reported, the SPF on August 27 canceled the auction for the sale of UMCC. According to the Fund, it negotiated with two dozen potential investors, 18 of whom signed a non-disclosure agreement, and about a dozen were actively pursuing due diligence of the facility.
