State-owned Ukrainian amber mining firm sold off for $181,000
Budtrans-Logistics won the auction for privatization of the state enterprise Burshtyn of Ukraine (Photo:prozorro.sale)
Budtrans-Logistic won the tender auction for the privatization of state-owned Ukrainian Amber, transparent governance platform Prozorro.Sale reported on Nov. 8.
No other company submitted competing bids.
The starting price for Ukrainian Amber – company specializing in the processing of precious stones and the manufacture of jewelry was set at UAH 6.4 million ($173,000). Budtrans-Logistic offered UAH 6.7 million ($181,000) for the enterprise.
According to Youcontrol monitoring service, Budtrans-Logistic was founded by Anatoliy Mesnikovych, from Rivne Oblast, in September 2022. The main activity of the company is wholesale trade in sugar, chocolate, and confectionery.
Mesnikovych is the current head or beneficiary of five other companies with various activities in Rivne Oblast.
The state enterprise Ukrainian Amber owns a license for amber extraction in Rivne Oblast, 11 land plots of 43.25 hectares, and nine real estate properties of 5,847 square meters in Rivne City and nearby Klesiv.
Initially, there were plans to sell Ukrainian Amber at twice the sum — for almost UAH 13 million ($352,000) – before the original October auction fell through.
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