Auction for privatization of JSC «United Mining and Chemical Company» will be held August 31, 2021. Starting price is UAH 3.7 billion

On June 16, 2021, the Cabinet of Ministers of Ukraine adopted the Resolution No. 662-р «On approval of the conditions of sale of block of shares of Joint-Stock Company «United Mining and Chemical Company»at an auction». This Resolution approved the conditions of privatization and proposal for the starting price of the Company.

The date of the auction has already been determined - August 31, 2021, and the starting price of the object at UAH 37 billion.

According to the Chairman of the State Property Fund of Ukraine Dmytro Sennychenko, within period of preparation JSC «UMCC» for privatization company profits increased in 3.5 times from UAH 100 million in 2019 to UAH 340 million in 2020. In addition, information about the company’s raw materials was disclosed to potential investors - for the first time in the history of Ukrainethe stamp «Restricted» was removed from these documents.

«Such a comprehensive work led, in particular, to an increase in the proposal of the starting price from 2.1 to 37 billion UAH.A preliminary interest in the privatization of JSC «United Mining Chemical Company» has been expressed by a wide range of investors, some of which are foreign. UMCC is the first object of the Large Privatization since the privatization of Kryvorizhstal», Dmytro Sennychenko said.

The Cabinet of Ministers of Ukraine assigned the State Property Fund to hold an auction and set up the control for execution of conditions of a sale and purchase agreement of state stake of the Company by the Buyer.

All information about this object of Large privatization is available at link:https://privatization.gov.ua/product/privatization-at-oghk/.