Interfax-Ukraine

News about recent political developments in Ukraine, key Ukrainian economic news and major current events in the CIS and the rest of the world.

https://en.interfax.com.ua/

UDP developer regards seizure of Bilshovyk shares after winning privatization auction as pressure on business, investors.

The winner of the auction for the privatization of JSC First Kyiv Machine Building Plant (formerly Bilshovyk plant) in Kyiv assesses the seizure of shares at the request of the State Bureau of Investigation (SBI) as pressure on business and investors, since SBI representatives were members of the auction commission, which approved the starting price and privatization conditions of the object, UDP development company, managed by Andriy Ivanov's Q Partners, told the Interfax-Ukraine agency.

"We regard such actions of law enforcement agencies (the seizure of 100% of the plant shares at the request of the SBI) as pressure on business and investors. We intend to appeal the decision in court," UDP said.

As reported, the State Bureau of Investigation is conducting an investigation into the case of possible abuses by officials of the State Property Fund of Ukraine during the privatization of Bilshovyk.

On January 11, 2022, the investigating judge, at the request of the prosecution, seized 100% of the charter capital of First Kyiv Machine Building Plant in order to preserve the specified material evidence. The bureau notes that the illegal alienation of the plant from state property at a low cost caused economic damage to state interests.

"The examination found that the property valuation report used to determine the value of the plant's shares does not meet the requirements of the law. This could adversely affect the reliability of such an assessment," the SBI says.

According to Q Partners, there was no communication between the security authorities and UDP.

"We also do not have any information about outside experts referred to by the SBI and their conclusions about the value of the shares. Moreover, the SBI representatives were members of the auction commission for the privatization of Bilshovyk plant, which approved the starting price and privatization conditions. There were no objections from this body at the stage of agreeing on the price. That is, the SBI actually and, most importantly, legally approved the assessment, which now, in their opinion, has become too low and gives them reason to believe that a crime has been committed. According to this logic, it is the SBI that is an accomplice in this crime," the press service of Q Partners said.

The company stressed that they intend to appeal the decision to seize the shares in court, but the seizure of shares does not affect the development plans of the project.

Related news
EBRD intends to send 100% of investments in green projects from 2022.

EBRD intends to send 100% of investments in green projects from 2022.

Starting this year, the European Bank for Reconstruction and Development (EBRD) aims to invest only in those projects that meet the goals of the Paris Climate Agreement, EBRD Manager for Green Economy and Climate Action Oleksandr Nikolaenko has said.

Interfax-Ukraine

Naftogaz Teplo invites local businesses to supply biofuel to CHPPs.

Naftogaz Teplo invites local businesses to supply biofuel to CHPPs.

Naftogaz Teplo LLC, a subsidiary of NJSC Naftogaz Ukrainy, which manages Novoyavorivska and Novorozdilska combined heat and power plants (CHPP, Lviv region) and is awaiting the transfer of six larger state-owned CHPPs to its management, intends to...

Interfax-Ukraine

Omicron slows in parts of U.S. as other states struggle

Omicron slows in parts of U.S. as other states struggle

Places in the U.S. that were hit first with the Omicron wave are now seeing a slowdown in case numbers, but other parts of the country continue to struggle to handle the surge. CBS News' Michael George reports, and then Dr. Celine Gounder, an infe...

A glimpse inside Ukraine amid fears of Russian invasion.

A glimpse inside Ukraine amid fears of Russian invasion.

ABC News Senior Foreign Correspondent Ian Pannell describes the mood in the Ukraine as Secretary of State Antony Blinken travels to the Eastern region amid fears of an imminent Russian invasion.

Why airline execs are worried 5G rollout could affect flights.

Why airline execs are worried 5G rollout could affect flights.

ABC News National Transportation Correspondent Gio Benitez gives insight on how the rollout of a new 5G service could cause disruptions to the aviation industry.

Voting rights advocate says Senators face  «stark choice»  after states pass restrictive laws.

Voting rights advocate says Senators face «stark choice» after states pass restrictive laws.

The Senate is debating a voting rights bill after numerous states passed more restrictive voting measures. Michael Waldman, president of the Brennan Center for Justice and author of "The Fight to Vote," joins "Red and Blue" anchor Elaine Quijano w...

Senate starts debate on voting rights bill with no Republican support.

Senate starts debate on voting rights bill with no Republican support.

Senate Majority Leader Chuck Schumer is moving forward with debate on the voting rights bill. CBS News chief White House correspondent Nancy Cordes, Politico's national political correspondent Meridith McGraw, and Wall Street Journal congressional...

History of racism in America is history ‘stolen from all of us’: Jeffery Robinson.

History of racism in America is history ‘stolen from all of us’: Jeffery Robinson.

ABC News’ Linsey Davis speaks to Jeffery Robinson, former ACLU deputy legal director, about his new documentary, “Who We Are: A Chronicle of Racism in America.​" ABC News Live Prime, Weekdays at 7EST & 9EST WATCH the ABC News Live Stream Here: SUB...