Tuesday, November 29, 2022

Anti-Monopoly Committee pauses Bilshovyk machinery plant sale

by Max HunderNovember 17, 2021 10:18 pm

On Nov. 17, the Anti-Monopoly Committee refused to consider an application to complete the controversial purchase of the Bilshovyk machine-building plant. The agency said that the application didn’t comply with its requirements.

Tycoon Vasyl Khmelnytsky and his business partners bought the Kyiv plant for a mere $53 million through an Oct. 27 auction that had just three bidders. Experts believe that the property could have easily been sold for three times as much.

Multiple media outlets alleged that Khmelnytsky-linked firms used dubious schemes to make the acquisition too risky for other investors. The committee is currently investigating the sale.

Max Hunder
Max Hunder
Business reporter, editor

Max Hunder is a business reporter at the Kyiv Independent. He previously worked as a business reporter at the Kyiv Post focusing on infrastructure and energy. He is a graduate of Eton College and University College London, and has reported for international publications from London, Kyiv and Yerevan.

Independent journalism
for an independent Ukraine
Independence is an expensive currency. Both Ukraine and its journalists are paying a high price to preserve its independence. Support Ukraine's trusted journalism in its darkest hour.