SPFU to put UMCC for sale with starting price of almost UAH 4 billion

The State Property Fund of Ukraine (SPFU) will put up for sale the United Mining and Chemical Company (UMCC) joint-stock company with a starting price of UAH 3.9 billion.

This is stated in the message of the SPFU, the Ukrainian News agency reports.

"According to the results of the meeting, the auction commission determined the conditions for the privatization of the state package of shares in the UMCC JSC, which include maintaining the company's main activities, making investments in production modernization, providing social guarantees to the company's employees, etc., and listened to the Advisor's Report (BDO Corporate Finance) regarding the determination of the starting price of 100% of the shares of the United Mining and Chemical Company JSC as of May 16, 2024. Accordingly, the starting price of the sale of the state share of the UMCC is UAH 3,899,358," the message states.

Currently, the fund is preparing to submit to the government a corresponding decision on the approval of the conditions and the starting price of the sale of the state package of the UMCC shares.

According to the announcement, the electronic auction for the sale of the state package of shares of the UMCC will take place in the Prozorro.Sales system and will be announced by the SPFU immediately after the Cabinet of Ministers adopts the appropriate decision on the terms and starting price of the sale.

As reported by the Ukrainian News agency, in September 2023, the SPFU published 15 objects of large-scale privatization in еру Prozorro.Sales, including the Odesa Portside Plant, United Mining and Chemical Company, and Centerenergo.

The UMCC is the largest producer of titanium raw materials, it includes the Vilnohirsk Mining and Metallurgical Plant and the Irshansk Mining and Processing Plant.

100% of the corporate rights of the UMCC are in the management of the SPFU.

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