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Kyiv Electronmash plant sold for almost $38 mln

Source : 112 Ukraine

The plant was sold at an auction 14 times higher than the starting price
20:22, 12 November 2021

Open source

Kyiv Electronmash plant was sold as part of a major privatization. LLC Lorten Group became the winner of the auction. This is evidenced by the data from the Prozorro auction.

22 companies took part in the auction. In the third round of bidding, Lorten Group offered to buy the plant for 970 million hryvnias and 1 kopeck. This rate was 1 kopeck higher than the rate of another company.

Lorten Group LLC, according to the Unified State Register of Legal Entities and Individual Entrepreneurs, was registered in Kyiv in May 2018 with a share capital of UAH 100.

Related: Why Bilshovyk plant in Kyiv was sold three times cheaper than its real cost?

The owner and head of the company is Oleh Pichenevsky from Nikopol (Dnipropetrovsk region).

As we reported earlier, General Commerce LLC won the auction for the privatization of the First Kyiv Machine Building Plant (formerly the Bilshovyk Plant). The company bought the plant for 1.42 billion UAH ($53.7 million).

The starting price of the object was UAH 1.39 billion ($52.5 million). The price of JSC during the auction increased to UAH 1.429 billion ($54 million). Despite the fact that the minimum step of the auction was $756,000. The competitors of the winning company were Invest Novatsii and IDK Kaskad.

Earlier, it was reported that the Cabinet of Ministers approved the terms of sale of the state-owned stake in the First Kyiv Machine-Building Plant (formerly the Bilshovyk Plant) at auction. The starting price of 100% of shares was set at UAH 1.39 billion ($52.5 million).

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