The government is creating conditions for the start of a large privatization and intensifying the fight against economic terrorism

The Cabinet of Ministers has defined the procedure for authorization and organization of electronic auctions for the sale of large privatization objects, adopting a relevant resolution at the meeting on July 18th.

From now on, electronic platform operators, which will be selected to conduct electronic auctions for the sale of large privatization objects, must meet the following requirements:

• have the status of an authorized (previously authorized) operator for conducting e-auctions for the sale of small privatization objects continuously for more than two years;

• be the operator of an e-platform through which winners of small privatization e-auctions have concluded purchase and sale agreements with a total value of not less than 10 million UAH;

• be the operator of an e-platform through which winners of small privatization e-auctions have concluded at least 3 purchase and sale agreements for small privatization objects with a total value of not less than 7,5 million UAH in the last 2 years.

Furthermore, the government has taken another step towards combating economic terrorism during privatization auctions. If the winner of a privatization auction refuses to proceed with the purchase, the right to buy the object will automatically pass to the next participant in the competition, based on the proposed bid amount. If this participant also declines to make the purchase, they will lose their guarantee deposit as well. As a result, in the event of a failed privatization auction, 40% of the initial object price (the winning bidder's guarantee deposit of 20% and the second participant's guarantee deposit of 20%) will be transferred to the state budget.