Ukraine to Public sale Nationalized Cosmetics Plant Previously Linked to Russian Oligarchs

THE WHAT? Ukraine’s State Property Fund will maintain an internet public sale on August 13 for 100% of the shares in Vinnytsiapobutkhim, a cosmetics and family chemical compounds producer that was nationalized in 2024.

THE DETAILS The beginning worth is ready at UAH 301.4 million (roughly US$7.4 million), excluding VAT. Purposes shall be accepted by August 12. The Vinnytsia-based plant was beforehand operated by Russia’s Neva Cosmetics, which is related to Russian oligarchs Viktor Kononov and Volodymyr Plesovskyi. The corporate produced merchandise beneath manufacturers together with Ushasty Nyan, Sarma, Mr. Chister, Lotus, and Max.

The property have been seized in 2022 and transferred to Ukraine’s Asset Restoration and Administration Company (ARMA). In 2024, Krytex-Service LLC was appointed to handle the corporate. Krytex-Service is owned by Ruslan Shostak and Valerii Kiptyk, who additionally function the Ukrainian retail chains Eva and Varus.

The power consists of 12 manufacturing traces and has the capability to supply 6,000–7,000 tons of detergent per 30 days. Situations of the privatization embrace obligatory social and funding obligations. Proceeds from the sale will go to Ukraine’s Fund for Liquidation of the Penalties of Armed Aggressi.

THE WHY? The sale is a part of Ukraine’s broader technique to privatize seized property and redirect proceeds towards post-war reconstruction. The Cupboard of Ministers added Vinnytsiapobutkhim to the checklist of main privatization property in February 2024.

Supply: The New Voice of Ukraine