{"id":775207,"date":"2021-04-07T16:24:35","date_gmt":"2021-04-07T13:24:35","guid":{"rendered":""},"modified":"2021-04-09T18:22:59","modified_gmt":"2021-04-09T15:22:59","slug":"ukrayina-parlament-skasuvav-zaboronu-prodazhu-ob-yektiv-velykoyi-pryvatyzatsiyi","status":"publish","type":"post","link":"https:\/\/new.eba.com.ua\/en\/ukrayina-parlament-skasuvav-zaboronu-prodazhu-ob-yektiv-velykoyi-pryvatyzatsiyi\/","title":{"rendered":"Ukraine: Parliament lifts ban on sale of large-scale privatization assets"},"content":{"rendered":"<p><strong>In brief<\/strong><\/p>\n<p>On <strong>30 March 2021 <\/strong>the Verkhovna Rada of Ukraine adopted the Law of Ukraine &#8220;On Amending Section V &#8220;Final and Transitional Provisions&#8221; of Law of Ukraine &#8220;On Privatization of State and Municipal Property&#8221; Regarding Privatization of Large-Scale Privatization Assets&#8221;. The Law will enter into force after it is signed by the President of Ukraine and after its official promulgation.<\/p>\n<p><strong>Key takeaways<\/strong><\/p>\n<p>The Law lifts the statutory ban on the sale of large-scale privatization assets (those of book value in excess of UAH 250 million or USD 9 million) imposed in March 2020 upon the commencement of the COVID-19 pandemic.<\/p>\n<p>The Law is aimed at incentivizing the completion of the preparation for privatization and it clears the statutory barrier for the government to announce the privatization auctions of a number of large-scale assets, including:<\/p>\n<ul>\n<li>United Mining and Chemical\u00a0Company<\/li>\n<li>Electrovazhmash Plant<\/li>\n<li>Krasnolymanska Coal Company<\/li>\n<li>Odesa Portside Plant<\/li>\n<li>President Hotel<\/li>\n<li>First Kyiv Machine-Building Plant (Bilshovyk Plant)<\/li>\n<\/ul>\n<p>According to the Law, until the end of the government-imposed pandemic restrictions, it will not be possible to privatize large-scale assets:<\/p>\n<ul>\n<li>through a Dutch auction or an auction with a preliminary examination of potential bids<\/li>\n<li>by way of a buyout to the single bidder<\/li>\n<\/ul>\n<p><strong>Background<\/strong><\/p>\n<p>The privatization ban for large-scale assets was first introduced on 30 March 2020. It prohibited both the sale and the preparation of such assets for privatization. On 2 September 2020, the ban for preparing the assets was lifted.<\/p>\n<p><strong>Contacts<\/strong><\/p>\n<div><strong><a href=\"mailto:Serhiy.Piontkovsky@bakermckenzie.com\">Serhiy Piontkovsky<\/a><\/strong><\/div>\n<div>Managing partner Baker McKenzie<\/div>\n<div>\u00a0<\/div>\n<div><strong><a href=\"mailto:Andrii.Grebonkin@bakermckenzie.com\">Andrii Grebonkin<\/a><\/strong><\/div>\n<div>Senior Associate Baker McKenzie<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In brief On 30 March 2021 the Verkhovna Rada of Ukraine adopted the Law of Ukraine &#8220;On Amending Section V &#8220;Final and Transitional Provisions&#8221; of Law of Ukraine &#8220;On Privatization of State and Municipal Property&#8221; Regarding Privatization of Large-Scale Privatization Assets&#8221;. The Law will enter into force after it is signed by the President of [&hellip;]<\/p>\n","protected":false},"author":4489,"featured_media":326058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[15576,15575],"tags":[],"class_list":["post-775207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-articles-en","category-news-and-articles-from-companies-en","company-16313"],"_links":{"self":[{"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/posts\/775207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/users\/4489"}],"replies":[{"embeddable":true,"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/comments?post=775207"}],"version-history":[{"count":0,"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/posts\/775207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/media\/326058"}],"wp:attachment":[{"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/media?parent=775207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/categories?post=775207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.eba.com.ua\/en\/wp-json\/wp\/v2\/tags?post=775207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}