Ukraine to Auction Nationalized Cosmetics Plant Formerly Linked to Russian Oligarchs

THE WHAT? Ukraine’s State Property Fund will hold an online auction on August 13 for 100% of the shares in Vinnytsiapobutkhim, a cosmetics and household chemicals manufacturer that was nationalized in 2024.

THE DETAILS The starting price is set at UAH 301.4 million (approximately US$7.4 million), excluding VAT. Applications will be accepted through August 12. The Vinnytsia-based plant was previously operated by Russia’s Neva Cosmetics, which is connected to Russian oligarchs Viktor Kononov and Volodymyr Plesovskyi. The company produced products under brands including Ushasty Nyan, Sarma, Mr. Chister, Lotus, and Max.

The assets were seized in 2022 and transferred to Ukraine’s Asset Recovery and Management Agency (ARMA). In 2024, Krytex-Service LLC was appointed to manage the company. Krytex-Service is owned by Ruslan Shostak and Valerii Kiptyk, who also operate the Ukrainian retail chains Eva and Varus.

The facility includes 12 production lines and has the capacity to produce 6,000–7,000 tons of detergent per month. Conditions of the privatization include mandatory social and investment obligations. Proceeds from the sale will go to Ukraine’s Fund for Liquidation of the Consequences of Armed Aggressi.

THE WHY? The sale is part of Ukraine’s broader strategy to privatize seized assets and redirect proceeds toward post-war reconstruction. The Cabinet of Ministers added Vinnytsiapobutkhim to the list of major privatization assets in February 2024.

Source: The New Voice of Ukraine

The post Ukraine to Auction Nationalized Cosmetics Plant Formerly Linked to Russian Oligarchs appeared first on Global Cosmetics News.