State Property Fund will put the Russian oligarch’s agricultural company up for auction
12.07.2023 - 14:40
The State Property Fund of Ukraine has announced the start of privatization of assets seized from Russian oligarchs.
On August 10, State Property Fund will hold open auctions on “Prozorro.Prodazhi” for the sale of the agricultural company “Investagro”, which previously belonged to the Russian billionaire, shareholder of the titanium corporation “VSMPO-Avisma” Mykhailo Shelkov.
The starting price is UAH 55 million. The guarantee fee for participation in the auction is UAH 11 million, the State Property Fund reported.
According to the results of 2022, “Investagro” received UAH 3.7 million in net profit, and in the first half of 2023 — UAH 7 million in loss. “Investagro” has current payables of UAH 17.2 million. The company owns 25 real estate objects and 12 vehicles. “Investagro” leases 204 land plots with a total area of almost 1,326 hectares.
On February 24, 2023, the Cabinet of Ministers transferred the confiscated assets of Mykhailo Shelkov to the management of the FSMU. Among them are 100% of Investagro LLC, 100% of VSMPO TITAN Ukraine LLC, 100% of Demurinsky Mining and Processing Plant LLC, 100% of Tai-Minerals LLC, etc.
The government adopted its order on the basis of the decision of the Supreme Administrative Court dated January 23, 2023 and the decision of the Appeals Chamber of the same court dated February 3.
The court applied sanctions against the Russian billionaire, because he contributed to Russia’s armed aggression against Ukraine. His corporation “VSMPO-Avisma” supplied titanium products to enterprises of the military and defense industry of the Russian Federation, including within the framework of contracts for the fulfillment of a state defense order.
It will be recalled that earlier the SBU notified the oligarch Mykhailo Shelkov of the suspicion that he supplied Russia with Ukrainian titanium raw materials for the production of Kalibr missiles.
Later, the Security Service detained Shelkov’s “right-hand man” in Dnipro, the Russian Oleksandr Fedoseyev.
