“Satynivskyi Resort”: Head of the State Property Fund Natalukha Explained Why Ocean Plaza Has Not Yet Been Sold

“Satinyivskyi resort”: the chairman of the State Property Fund of Ukraine, Dmytro Natalukha, without naming surnames, explained the scheme by which business partner of the Rotenbergs, Vasyl Khmelnytskyi, made it so that Ukraine could not sell Ocean Plaza to Russian oligarchs.

This is the “sanatorium of the devil.” Every possible measure was taken to legally restrict the state's ability to put it up for sale. First, there is the asset itself—the Investment Union “Libid” [Note: translation of proper group name; keep official transliteration if known], where there are minority shareholders that narrow our options for corporate governance. Second, there is a huge debt that costs more than the shopping center itself— 7 billion hryvnias. Third—and perhaps one of the biggest problems—is the loan. For the loan, every month interest accrues.

Thus this legal infrastructure is built, so that it can simply be put up for sale, of course possible, but one must immediately prepare for interrogations.

The Fund’s task is to ensure that at least we launch an auction by the end of this year.