State Enterprise “Electronmash” Sold for $15 Mln

by Olha Povaliaieva
Friday, January 28, 2022
State Enterprise “Electronmash” Sold for $15 Mln

As part of the state program “Large privatization,” another non-profit enterprise was sold with the aim of its further development

The online auction was held on January 27 by the State Property Fund. 5 business representatives took part. The privatization of Electronmash will be completed after signing the protocol on the results of the auction, the sale and purchase agreement, and the full payment.

“In cases where the winner does not pay for the purchased lot, he loses the guarantee fee in the amount of $224.000, and the object is put up for a second auction. Thus, the budget has already received 1$38 mln. And in any case, each object will find its responsible private investor”, Dmytro Sennichenko, head of the State Property Fund.

The buyer is obliged to fulfill the conditions for the privatization of the enterprise:

  • Repayment of $1.17 million of the company's debt;
  • Do not change the composition of employees for 6 months.

The state enterprise Electronmash is ⅔ located in Kyiv and includes 37 real estate objects and 3 land plots.

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