ARMA is preparing to transfer the assets of two distilleries to management

The Asset Recovery and Management Agency (ARMA) is preparing to transfer 11 properties belonging to two former distilleries into its management. The properties are located in the Vinnytsia and Ternopil regions.

These are 11 real estate properties owned by Timekol LLC and associated with the facilities of the former Yurkivtsi and Borshchiv distilleries.

The first group includes four real estate properties in the village of Yurkivtsi, Mohyliv-Podilskyi District, Vinnytsia Oblast.

These are non-residential buildings and structures associated with the Yurkivtsi Distillery, as well as a community center.

The second group consists of seven real estate properties in the city of Borshchiv, Ternopil Oblast. These are non-residential buildings and structures associated with the facilities of the Borshchiv Distillery.

The Yurkivtsi Distillery, located in the village of Yurkivtsi, Mohyliv-Podilskyi District, Vinnytsia Oblast, was put up for privatization by the State Property Fund of Ukraine in October 2022.

The auction took place on October 19, 2022. The starting price for the lot was 15.3 million hryvnias, excluding VAT. The winner of the auction was Timekol LLC, which offered 34 million hryvnias—nearly double the initial price.

After winning the auction, “Timekol” entered into a purchase and sale agreement with the State Property Fund of Ukraine on November 25, 2022. However, the asset transfer process was delayed, and the transfer of assets and liabilities did not take place.

In July 2023, the State Property Fund of Ukraine decided to liquidate the company.

This was reported by the Asset Recovery and Management Agency.

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