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SPF sets another auction for sale of UMCC for Dec 20
KYIV. Nov 1 (Interfax-Ukraine) – The State Property Fund (SPF) has appointed another auction for the sale of PrJSC United Mining and Chemical Company (UMCC), which controls Vilnohirsk Mining and Metallurgical Plant (Dnipropetrovsk region) and Irshansk Mining and Processing Plant (Zhytomyr region), for December 20 of the current year.
According to a SPF press release, this decision was made at a meeting of the auction commission on October 29.
As specified in the message, this decision was made due to the fact that the State Property Fund received two applications for participation in the auction for privatization of UMCC, one of which does not meet the requirements of current legislation. Since the auction cannot be held with one participant, the SPF has set a new date for the auction.
Also, on October 28, privatization advisor BDO Corporate Finance LLC released an official appeal to the Ukrainian government on the need to provide guarantees for the protection of future investments for participants in the auction for privatization of UMCC, the press release says.
As reported, the SPF has postponed the auction for the sale of UMCC to late December due to one real bid.
UMCC sells its products to more than 30 countries of the world and is one of the world’s largest producers of titanium raw materials, occupying 4% of the world market. The main sales markets are the EU, China, Turkey, as well as the United States and African countries.
