Privatisation auction for Odesa Potash Plant fails due to lack of bids

The attempt to sell the Odesa Potash Plant through a privatisation auction has ended in failure. The event, scheduled for 19 October, did not take place as no bids were submitted by the deadline. The starting price of the lot was over 4.3 billion hryvnia.

Information from the sales registry

Data on the auction's failure is confirmed by records on the "Prozorro.Prodazhi" platform. Interest in the asset could have been demonstrated by submitting a bid by 20:00 on Sunday. However, no potential buyer took advantage of this opportunity.

Reaction from the State Property Fund leadership

Head of the State Property Fund Dmytro Nataluha commented on the situation, noting that the expected changes did not materialise. "Well. A miracle, unfortunately, did not happen, and it turns out that daily, tedious, painstaking work is also powerless against a banal political conjuncture. The years-long corruption saga remains without a happy ending again," he stated.

Nataluha added that one must wait until 3 November, which coincides with the date of the US midterm elections.

"This is the phrase I have heard most often in the last 2-3 days from American companies that previously sent letters in which they 'guarantee to participate in the auction and make a bid at the starting price'," the FDM head explained.