In the Zhytomyr region, an abandoned factory was sold for 37.2 million hryvnias

The “Chervonensky Food Products Plant” in the Zhytomyr region, which had been out of operation for seven years, was sold at auction for 31 million hryvnias, excluding VAT. During the auction, the price rose 9.1 times compared to the starting bid, and including tax, the buyer must pay 37.2 million hryvnias.

 

The property complex of the state-owned enterprise in the village of Chervone includes 50 real estate properties—buildings and structures—37 vehicles, and other movable property.

The enterprise’s balance sheet also includes two land plots with a total area of over 54 hectares, granted for permanent use. At the same time, the complex includes facilities that are not subject to privatization, in particular a radiation shelter. An unfinished food concentrate production facility is also located on the premises.

Three bidders participated in the auction on October 27. The winner must pay the offered amount within 20 business days from the date the auction minutes are drawn up. After full payment, the parties will enter into a purchase and sale agreement. Ownership will transfer to the buyer upon signing the acceptance and transfer certificate.

The new owner must also fulfill the privatization conditions, including settling the enterprise’s wage arrears and debts to the state budget.

This was reported by the press service of the State Property Fund.

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