On the fourth attempt, the SPFU did manage to hold an auction, and the confiscated agricultural company of the Russian oligarch will get a new owner.
On July 8, the auction for the sale of a 100% stake in the authorized capital of Investagro LLC, a former asset of Russian titanium tycoon Mikhail Shelkov, was successfully completed. In February 2023, the court collected this and other assets of the oligarch into the national budget, and the government transferred them to the State Property Fund for further privatization.
Investagro is an agricultural enterprise in the Dnipro region and the first confiscated sanctioned asset that the state tried to sell. The company was put up for sale three times, but all attempts were unsuccessful. Investors did not participate in the first auction, and the second auction was canceled by the SPFU to increase the investment attractiveness of the object. We covered all the obstacles that prevented the sale of Investagro in the article.
During the year, the State Property Fund managed to reduce the debt burden on the enterprise and remove the encumbrances on the property. However, no one participated in the third auction either. Only on the fourth attempt, after reducing the starting price by 50%, did the auction take place. Without competition, the winner with a proposal of UAH 27 million was the agricultural-industrial company Dniproagro. After signing the bidding protocol, the investor must pay the sale price and conclude an agreement to purchase the asset.
This is the fourth successful case of bidding to sell former Russian assets. Earlier, the SPFU sold the apartments of Shelkov and collaborator Saldo for UAH 6.9 million and the PentoPak plant, which had belonged to the family of the Russian-Greek oligarch Savvidi for UAH 103 million.
In total, the Fund manages more than 770 confiscated assets, the total value of which reaches UAH 3.2 billion.
This publication was prepared by Transparency International Ukraine with the financial support of Sweden.
Investagro is an agricultural enterprise in the Dnipro region and the first confiscated sanctioned asset that the state tried to sell. The company was put up for sale three times, but all attempts were unsuccessful.
