Rivne automobile plant returned to state ownership
Kyiv • UNN
The sale and purchase agreement for Rivne Automobile Repair Plant worth UAH 147 million was terminated. The private buyer failed to fulfill its obligations to repay debts and develop the enterprise.
The sale and purchase agreement has been terminated, and the property of the Rivne Automobile Repair Plant, worth more than UAH 147 million, has been transferred to the state-owned enterprise. UNN reports with reference to the press service of the Rivne Regional Prosecutor's Office.
Details
Prosecutors found that the company had not paid its wage arrears or budget debts. The previous contract was terminated.
Rivne Automobile Plant was returned to state ownership.
For reference
The property was transferred to a private company in 2023 as a result of a small-scale privatization auction with the participation of the regional office of the SPFU in Rivne and Zhytomyr regions.
The buyer acquired Rivne Automobile Repair Plant for UAH 3 million. According to the agreement, he was to ensure the economic development of the enterprise, pay off wage arrears, save jobs, attract investments and fill the budget.
The prosecutors found violations of these obligations. The prosecutor's office took measures to protect property interests in court.
