Ukraine's State Property Fund puts large plant confiscated from Russian oligarch up for sale

The State Property Fund of Ukraine has announced an auction for the sale of PentoPak, a plant that manufactures packaging for meat products which was confiscated from Russian oligarch Ivan Savvidi.

Source: a statement by the press service of the State Property Fund of Ukraine

Details: "The State Property Fund has approved the starting price of the PentoPak plant at UAH 203.7 million (about US$5.1 million). The lot for privatisation will be published in the Prozorro.Sale system today. The auction is scheduled for 31 May," the statement said.

It is noted that this asset was confiscated from the family of Ivan Savvidi, a Russian-Greek oligarch who has close ties with the Russian leadership and supports the occupation authorities in Ukraine’s temporarily occupied territories.

PentoPak provides a full meat product packaging manufacturing cycle. Its clients include well-known Ukrainian brands such as Rud, Globino and Meat Guild, as well as customers from more than 30 countries.

The business is currently profitable and continues to pay taxes and provide jobs for its team of 193 people. It plans to upgrade production and break into new markets by supplying packaging for the dairy, fish processing and animal feed industries.

Previously:

• Assets of pro-Russian former Education Minister Dmytro Tabachnyk were transferred to the State Property Fund of Ukraine.
• The State Property Fund has put apartments confiscated from Russian oligarch Mikhail Shelkov and Ukrainian collaborator Volodymyr Saldo up for sale on Prozorro.Sale again. The auctions are scheduled for 25 May.

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