Crimean Masandra winery sold for $72 million

Source : 112 Ukraine

Yuzhny Proyekt, the subsidiary of Rossiya Bank, became the owner of 100% of stocks
18:36, 14 December 2020

Open source

Crimean Masandra winery has been sold for $72 million. Yuzhny Proyekt, the subsidiary of Rossiya Bank, became the owner of 100% of stocks as RIA-News reported.

According to the protocol, the auction has finished 12 minutes after its start. The Estate group (Moscow) participated in the auction besides Yuzhny Proyekt.

The final cost of the purchase made $72 million.

Related: Is Crimea now costing Russia more than it is worth?

According to a news agency, Yuzhny Proyekt was registered in November 2017 in Saint Petersburg. Rossiya Bank owns 99.9% of the company’s stocks. In December 2017, Yuzhny Proyekt purchased the Crimean plant of sparkling wines Novy Svet for 1.5 billion rubles ($20.541.051).

In March 2014, 131 Crimean companies were nationalized by the regulation of the so-called government of Crimea, including Magarach and Masandra wineries and Novy Svet plant of sparkling wines and many others.

The Foreign Minister of Ukraine expressed the protests against the planned so-called privatization of Masandra state concern that is governed by the Ministry of Agrarian Policy and Food of Ukraine.

Related: Ukraine asks Google to include Crimean Tatar language in Google Translate

As we reported, there are grounds to suppose that well-known Austrian architectural firm Coop Himmelblau participates in the construction of the opera house in Sevastopol.

Russia annexed Crimea in March 2014, invading the Ukrainian peninsula and holding the illegal referendum; based on its trumped-up results, the Russian Parliament decided to approve the "reunification" of Crimea with mainland Russia. Ukraine, in turn, defined February 20, 2014, as the beginning of the occupation of Crimea by the Russian Federation. Western governments and organizations NGOs do not recognize the act of annexation of the Ukrainian peninsula.


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