Bolshevik plant was sold for UAH 1.429 billion to a consortium of investors

Bolshevik plant was sold for UAH 1.429 billion to a consortium of investors

The winner of the auction for the purchase of Bolshevik plant was General Commerce LLC

A consortium of investors, including the owner of “A Development”, Alexey Baranov, and the UDP company managed by Andrey Ivanov, acquired the First Kiev Machine-Building Plant (formerly Bolshevik) at an auction as part of the Big Privatization.

This became known as a result of the auction held at the premises of the State Property Fund of Ukraine.

As a result of the auction, the plant was acquired by General Commerce LLC for UAH 1.429 billion. General Commerce LLC was registered in Kyiv in 2018, authorized capital - UAH 4.1 thousand. The head - Igor Khizhnyak.

According to YouControl, 15% of the shares of General Comers LLC belong to ZNVKIF Laram System JSC, it is associated with businessmen Vasily Khmelnitsky and Andrey Ivanov.

The Antimonopoly Committee of Ukraine (AMCU) has granted permission to General Commerce LLC (Kiev) to acquire shares of the First Kiev Machine-Building Plant (Kiev), which will ensure that 50% of the votes in the supreme governing body of the company are exceeded, the AMCU told to the Interfax-Ukraine.

In addition, the buyer needs to invest at least UAH 57 million in the modernization of the enterprise over three years, to preserve part of the existing production potential at the site in Kyiv or Zhashkov (Cherkasy region), or at other production facilities in Ukraine.

Business Development Director of the investment company Q Partners, which manages UDP, Andrey Semenov, said that the concept for the development of the project will be presented in 2022. UDP representatives noted that they would approach and consult with experts in the field of urban planning, architecture and other related industries. The company promised to approach the redevelopment of the facility in a comprehensive manner, starting with a comprehensive analysis.

According to the head of the State Property Fund Dmitry Sennichenko, the successful sale of Bolshevik will not only replenish the state budget, but will also contribute to the creation of new jobs vacancies and modernization of production. Funds from the privatization of OJSC PKMZ in the amount of UAH 1.42 billion have already been transferred to the state budget, said the head of the State Property Fund of Ukraine Dmitry Sennichenko.

JSC "First Kiev Machine-Building Plant" (ex- "Bolshevik") started operating in 1882 and became the only universal machine-building complex in Kyiv with a full production cycle. The State Property Fund stated that by the time of privatization, production at the plant had been destroyed, and the facility survived solely by leasing premises. For 2020, PKMZ showed a revenue of UAH 84.2 million and a loss of UAH 22.4 million. The plant's debts are more than UAH 500 million.

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