Archive for June 20th, 2017

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PrivatBank (and others) assets head to auction

June 20, 2017

There are a number of electronic platforms used for auctioning off seized, arrested or defaulted assets in Ukraine.

Among them is the State Owned Enterprise (SOE) creatively titled “Electronic Trading System of Arrested Property” headed by Victor Vishnev.

Despite the very bland and clunky appearance  of the website and some lots that would equate to little more than junk, it is obviously functional.  The SOE has a track record with Oschadbank and Ukrgazbank having auctioned off assets worth UAH  130 million and UAH 150 million respectively.

Of the 3762 lots of Q1 2017 it has auctioned, it has raised UAH 386 million.  (According to the Ministry of Justice)

Mr Vishnev has let it be known that his SOE has won a competition to auction the now nationalised PrivatBank assets – about 2000 lots in total.

They include the Bukovel ski resort, Dnipr FC’s training ground, numerous shopping malls and business centers (mostly but not entirely located in and around Dnipr).  This is surely the biggest account there is and will be for some time.  It will equate to UAH billions.  There will be some solid assets to buy among the lots, but the full listing of the lots will paint an interesting picture of what pies PrivatBank (read Messrs Kolomoisky and Bogolyubov) has had its fingers in.  (Naturally not all of their interests are associated with actions via the bank.)

Interestingly, Mr Vishnev stated that  SOE Electronic Trading System of Arrested Property also expected to conclude an agreement with Russian VTB to auction 900 lots.  Quite what those lots consist of remain to be seen.  Perhaps the majority are High Street branches as the bank exits Ukraine.  Then again, perhaps it won’t be overflowing with High Street branches and some interesting assets will come to light – as well as some interesting history surrounding them.

A website, no matter how basic it looks, to keep an eye upon as PrivatBank and VTB assets for auction get uploaded over the coming months.

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