The article discusses the privatization of Kyiv‘s Ocean Plaza shopping mall, which is owned by state–owned enterprises (SOEs) and investment companies. The key points are:
* The High Anti-Corruption Court (HACC) has ruled in favor of the State Property Fund of Ukraine (SPFU), allowing it to seize debts owed by IU Lybid to sanctioned Ethoder Investments Limited.
* The SPFU now owns 66.65% of IU Lybid, which holds a significant stake in Ocean Plaza.
* The outstanding loan, worth $177.4 million, was initially secured using the shopping mall as collateral. However, IU Lybid stopped making payments on the loan in February 2022, creating a problem for potential buyers and forcing the SPFU to seek legal remedies.
* The SPFU can now sell its stake in Ocean Plaza, which has been valued at Hr 1.65 billion (approximately €39.2 million).
* The privatization of Ocean Plaza is seen as a significant step towards resolving issues related to state-owned enterprises and investment companies in Ukraine.
Overall, the article highlights the complexities surrounding the privatization of state-owned assets and the challenges faced by Ukrainian SOEs in navigating legal and financial issues.