Guarantee Fund sold assets of Russian state-owned banks for ​​US$126.1 million

The Deposit Guarantee Fund has held 415 successful auctions on Prozorro.Sale to sell the assets of Russian banks, raising UAH 5.2 billion (approx. US$126.1 million) over the past two years. [Prozorro.Sale is a Ukrainian government electronic platform designed for the transparent and efficient sale of state and municipal assets – ed.].

Source: press service of Prozorro.Sale, reports Ukrinform 

Quote: "The Deposit Guarantee Fund began selling the assets of Russian state-owned banks through the Prozorro.Sale system at the end of July 2022. These are the assets of MR Bank (formerly Sberbank) and Prominvestbank. The system has successfully completed 415 online auctions for the sale of assets of these banks for more than UAH 5.2 billion over the past two years."

Details: It is noted that the average competition at such auctions is three participants, and the average price increase is 22%. More than 700 bidders have already competed for these assets at electronic auctions.

The auction for the sale of a 2015 Volkswagen Passat attracted the most bidders - 48 people. As a result of the auction, the value of the asset increased from the starting price of UAH 224,400 (US$5,443) to UAH 610,000 (US$14,798).

The most expensive lot sold during this period was a claim under loan agreements secured by a solar power plant and its equipment, as well as registered shares. The lot was sold at a Dutch auction for over UAH 683 million (US$16.5 million). ⠀

All proceeds from the sale of the seized Russian assets will be transferred to the Fund for the Elimination of the Consequences of Armed Aggression of Russia.

Background:

• The Kyiv Commercial Court, at the request of the Deposit Guarantee Fund, seized all accounts and property belonging to Kostiantyn Zhevago as the former owner of the bank Finance and Credit (F&C) that was taken off the market in a case of recovery of UAH 46 billion (US$1.115 billion) from the bank.
• In late July and early August, the Deposit Guarantee Fund will hold auctions to sell Prominvestbank's property. The auction will be held via the Prozorro.Sale system and will include car parks in Kyiv.

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