Odesa Winery Was Privatized for $8.5 Million

by Roman Cheplyk
Friday, November 26, 2021
Odesa Winery Was Privatized for $8.5 Million

The winner of the auction for the privatization of the land complex of the Odessavinprom plant transferred $8.5 million to the budget

Under the terms of privatization, the new owner within three years must ensure the preservation of the core activity the production of grape wines. During this time, he must fulfill social guarantees for the employees. Also, the auction winner assumes responsibility to conclude a protection agreement for the preservation of the architectural monument.

The privatization auction was held on September 14 at a starting price of $2 million and was sold for $8.5 million, that is, 3.6 times expensive.

The company acquired real estate, particularly production buildings, warehouses for the production of products, and workshops for the production and storage of wines. With over 22 thousand sq. m, the company's real estate is located in Odesa along the streets of French Boulevard, Nalivnaya, and Ataman Holovaty.

The Odissavinprom company was founded by Victor Enno and a merchant from France Francois Nouveau. Therefore, the factory also produces sparkling wines on French Boulevard.

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