State Property Fund found a buyer for Rivne Radio Plant for the 24th time

The State Property Fund on Tuesday, October 7, held a successful auction for the sale of a state-owned stake of 50% + 1 share in the authorized capital of Rivne Radio Engineering Plant PJSC for the 24th time, according to Prozorro.Sale.

The hybrid Dutch auction (for price reduction with a stage of closed bids) started with a lot price of almost UAH 60.78 million. The winning bid was UAH 30.99 million.

The State Property Fund has repeatedly tried to privatize the company was able to hold the auction, but six auctions were canceled before the bidding, while others did not take place due to the lack of bidders.

The Rivne Radio Engineering Plant was built in 1982-1986 and manufactured special-purpose equipment for the USSR's defense industry. In 1989, the plant began producing radio equipment, and after Ukraine gained independence, it switched to manufacturing household goods.

At the end of 2007, the state sold the plant to Energoinvest for UAH 25.6 million ($5 million at the time).

Three years later, in April 2011, the new owners decided to sell seven of the plant's premises, which accounted for more than 90% of the company's book value. Former head of the regional office of the SPF in Rivne region saidhe said that after that, "three machines and some small items remained on the balance sheet of the radio plant.

In 2014, the government managed to terminate the sale and purchase agreement for the radio plant on the grounds that the privatization terms were not met.

It took more than eight years to get the sold premises back. Only in April 2023 did the Court of Cassation of the Supreme Court finally decided return the lost assets to the state.

The radio plant has not been operating since 2013.

• on August 4, a single property complex was sold in Kyiv of the state enterprise Kyiv Automobile Repair Plant near the Beresteyska metro station. It was purchased by Inter Food 2020 LLC for UAH 148 million including VAT.
• on September 25, the SPFU held a successful auction of privatization of 73.28% of shares in the Kyiv-based Kvant plant. The winner of the auction, General Agro Trade LLC, offered UAH 401.5 million for it.