ARMA has announced a tender to select a manager for a popular mineral water producer
On May 15, the Asset Recovery and Management Agency (ARMA) announced a tender to select a manager for the assets of the IDS Ukraine group, one of the largest bottled water producers in Ukraine.
The company in question includes the well-known brands “Morshynska” and “Mirgorodska.” The agency stated that the procedure is intended to ensure the effective management of seized assets in accordance with updated rules.
The competition is being held under new rules for managing seized assets as part of ARMA’s reforms. These rules provide for stricter selection criteria and enhanced oversight of strategic asset management.
“IDS Ukraine is one of the largest assets under ARMA’s management, covering the full cycle of mineral water production and distribution,” the agency noted.
IDS stated that the plants in Morshyn and Myrhorod are operating normally, and ARMA’s authority to manage the assets is being challenged in court. The company claims that court rulings only prohibit the disposal of shares, but not their use, which calls into question the legality of the agreement with the new administrator.
IDS also emphasizes that the manager will effectively be forced to transfer funds to the budget before receiving dividends and will be unable to meet ARMA’s stated financial requirements.
Currently, the High Anti-Corruption Court is considering the issue of possible nationalization of the assets, after which they may become state property through the State Property Fund, and the management agreement will be terminated. The company also claims that ARMA’s asset valuation (approximately UAH 5 billion) is undervalued, while an independent valuation reaches UAH 8 billion.
It was previously reported that the Asset Recovery and Management Agency (ARMA) would investigate the winners of the auction for the sale of 460 hectares of land on the Borzhava Plateau in Zakarpattia Oblast, who turned out to be associates of Serhiy Lyovochkin—a People’s Deputy from the Opposition Platform—For Life party and former head of the Presidential Administration under Viktor Yanukovych.
The Asset Recovery and Management Agency refused to sign the auction protocols in the “Prozorro.Sales” system regarding the sale of 460 hectares of land on the Borzhava Plateau.
