State Property Fund will once again put the Russian oligarch’s agricultural company up for auction
24.06.2024 - 11:53
The State Property Fund will hold a repeat auction for the sale of the nationalized agricultural company of a Russian oligarch.
On June 28, the Fund will hold an online auction for the sale of the nationalized agricultural company “Investagro”, the head of the State Property Fund Vitalii Koval announced in Telegram.
“Investagro” is an active agricultural producer located in the Dnipropetrovsk region. Main crops: sunflower, millet, rapeseed, wheat.
The company owns 25 registered units of real estate and infrastructure with a total area of 6,222.2 square meters, including production, warehouse and administrative buildings and structures.
Investagro leases 226 land plots with a total area of 1483.2729 hectares for its activities.
As of March 31, 2024, the company has no overdue payables.
Applications for participation in the auction will be accepted until June 27 inclusive. The starting price of the asset is UAH 48.9 million.
The funds received from the sale of this asset will be directed to the Fund for Liquidation of the Consequences of Armed Aggression of the Russian Federation, from which projects for the reconstruction of Ukraine are financed.
“Investagro” previously belonged to the Russian billionaire, shareholder of the titanium corporation “VSMPO-Avisma” Mykhailo Shelkov.
On February 24, 2023, the Cabinet of Ministers transferred the confiscated assets of Mykhailo Shelkov to the management of the State Property Fund. 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 oligarch Mykhailo Shelkov of the suspicion that he had 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 Fedoseev.
