Cabinet hands over Ocean Plaza shopping center confiscated from Russian oligarch Rotenberg to SPF for further privatization

The Cabinet of Ministers has transferred the state share of the capital's shopping and entertainment center, Ocean Plaza, to the State Property Fund (SPF) for further privatization.

This follows from a statement by the SPF, the Ukrainian News agency reports.

According to the report, the received funds will be directed to the fund to liquidate the consequences of armed aggression.

"The state's share in the Ocean Plaza shopping center is 66.65% of the share of the authorized capital of the company Lybid Investment Union, which owns this shopping and leisure center. As earlier reported, in March 2023, the High Anti-Corruption Court, by its decision, confiscated this share from the sanctioned Russian oligarchs Arkady and Igor Rotenberg into state property. The SPF will promptly conduct an audit and inventory of the property," the message says.

In the process of preparing for the privatization of the state share in the Ocean Plaza shopping center, the State Property Fund may involve one of the "big four" auditing companies to assess its market value.

As the Ukrainian News agency earlier reported, the SPF expects to begin the privatization of confiscated Russian assets in 2023.