NEQSOL Holding pays UAH 3.94 bln for purchase of United Mining and Chemical Company

NEQSOL Holding, owner of Vodafone Ukraine, the country's second-largest mobile operator, has completed a UAH 3.94 billion payment to Ukraine's state budget for acquiring United Mining and Chemical Company (UMCC, Kyiv) in a privatization auction.

"The auction winner has fully settled the payment for the state-owned shares of Ukraine's largest titanium ore producer. Additionally, the new owner has committed to a major investment of at least UAH 400 million to modernize the production facilities, ensuring the enterprise's further development," the State Property Fund (SPF) stated on Monday.

Volodymyr Lavrenchuk, Regional Director of NEQSOL Holding, emphasized that the international group, operating in 11 countries, is following all legal procedures to finalize the privatization process.

"As a strategic investor, we have already begun discussions with specialized companies from the United States, Australia, the UK, and Canada to bring in the best global expertise for developing a new UMCC strategy. This strategy includes fulfilling privatization commitments, implementing comprehensive modernization, and expanding into global markets," he said.

The State Property Fund said that the process of large-scale privatization is ongoing, and on December 19, 2024, 100% of the state share of the nationalized manufacturer of building materials Aeroc LLC will be put up for auction at an online auction in the Prozorro.Sale electronic trading system with a starting price of UAH 965.3 million.

The State Property Fund recalled that, taking into account the sale of the Ukraine Hotel earlier this fall, the total amount of proceeds from large-scale privatization this year has already exceeded UAH 6.4 billion.