Acceptance of applications for participation in the auction for the privatization of JSC "United Mining and Chemical Company" is started

On July 2, 2021, the State Property Fund of Ukraine published the Information on the holding of an auction for the privatization of JSC “United Mining and Chemical Company” (JSC “UMCC”), which is the beginning for the filing of applications by potential investors to participate in the auction.

According to this Information, the first large privatization auction this year will take place on August 31 at 11:00, with a starting price of UAH 37 billion.

The auction for the privatization of JSC “UMCC” will be held according to the classical model - the price increase in steps of UAH 50 million, with the participation of the licitator, and everyone can watch the live broadcast.

From the moment of publication until 4 pm on August 19, potential investors who are ready to take part in the auction can pay a guarantee fee in the amount of UAH 185 million, a registration fee in the amount of UAH 60,000, and submit the auction documentation to the State Property Fund.

Also, at the written request of those wishing to take part in the auction and after the conclusion of a confidentiality agreement with the State Property Fund, they have the opportunity to visit the company’s office.

According to the Chairman of the State Property Fund Dmytro Sennychenko, the transparent auction of JSC “United Mining and Chemical Company” has every chance to become the first success of the Large privatization in the last 15 years, since the privatization auction of Kryvorizhstal.

“The State Property Fund carried out important work to prepare JSC “UMCC” for the privatization auction, which became possible thanks to the political support of transparent privatization from the President of Ukraine, the Verkhovna Rada and the Cabinet of Ministers. The result of this work is an increase in the starting price of JSC “UMCC” from UAH 2.1 to 3.7 billion”, Dmytro Sennychenko said.

Reference

The structure of JSC “UMCC” includes the Vilnohirsk mining and metallurgical plant (Dnepropetrovsk region) and the Irshansk mining and processing plant (Zhytomyr region).

JSC “United Mining and Chemical Company” is not a strategic asset for the state - all over the world companies engaged in the extraction of titanium-containing ores are privately owned, with the exception of some companies in China.