Sale of Kyiv’s Gulliver for $207 million falls through — reason given
Kyiv • UNN
No buyer submitted an application for the Gulliver auction on Prozorro.Sale. The next steps will be determined by the supervisory boards of Oschadbank and Ukreximbank.
The auction for the sale of the capital’s Gulliver complex on the Prozorro.Sale system did not take place — no potential buyer submitted an application to participate. Oschadbank reported this on September 30, UNN reports.
The further fate of the asset will now be decided by the supervisory boards of Oschadbank and Ukreximbank.
Details
The deadline for submitting applications to participate in the auction expired on September 30 at 8:00 p.m. By that time, no offers from potential buyers had been received, so the scheduled three-round English auction did not take place.
Oschadbank explained that the next steps regarding the sale of Gulliver would be determined by the supervisory boards of Oschadbank and Ukreximbank. They will take into account the market situation, investors’ readiness to purchase the asset, as well as wartime and security risks. The financial institution’s Chairman of the Management Board, Yurii Katsion, noted that the very fact that the shopping and entertainment center had been put up for sale was already an important stage. According to him, there is interest in the property, but potential buyers are still taking a cautious approach to major investments because of the war.
"We see interest in the asset and understand that investors remain cautious because of wartime risks. We will next assess the readiness of the market and potential investors to purchase the asset and determine possible models and timelines for its sale," Katsion said.
He added that it was important for the state-owned bank to conduct the sale as transparently as possible and achieve the best possible financial result. Among other things, the amounts of taxes and dividends that the banks pay to the state will depend on this.
Context
The Gulliver complex is owned by a consortium of two state-owned banks. Oschadbank owns 80% of the asset, while the remaining 20% belongs to Ukreximbank. The banks’ supervisory boards decided to put the complex up for sale at the end of July 2026. Gulliver’s starting price was set at $207 million. Under the terms of the sale, the buyer was required to pay the full amount on the day the sale and purchase agreement was concluded.