The State Property Fund of Ukraine sold 50% +1 share of PJSC “Rivne Radio Technical Plant” for nearly 31 million UAH. This sale was successful after 17 unsuccessful auctions.
This is reported by Rivne24
According to the SPFU, the auction took place in the Prozorro.Sales system, where the fund’s team managed to find a buyer. The shares were sold at a so-called “Dutch auction”.
According to the announcement, the new owner will receive the controlling stake after full payment. At the same time, the enterprise has significant creditor debt amounting to 55.3 million UAH, of which over 15.8 million UAH is owed in wages and to the budget.
The new shareholder has been given 6 months to settle wage and tax debts, as well as to retain the workforce.
It is worth noting that in July this year, on July 4, 50% +1 share of PJSC “Rivne Radio Technical Plant” was valued at 121.56 million UAH at auction.
Previously, the enterprise specialized in the production of radio equipment for aviation, tape recorders, and radios, but since 2013, the plant has not operated and has been declared bankrupt.