Investments in distilleries during privatization brings ₴4B to the budget.

Since distilleries began to be sold, the State Property Fund of Ukraine has organized 115 online auctions. Privatization of these assets ensured the receipt of ₴4B ($105M) to Ukraine’s budget, said head of the SPFU, Vitaliy Koval.

During 54 successful auctions an average of 3.2 participants participated, which indicates a great interest in these auctions. Due to the competition generated, asset prices increased by an average of 140%. In addition to the sale price, the new owners also assume the property’s debt burden, including taxes and back wages, with a total amount of ₴364M. Also, the contribution from these new owners to the state budget in the form of ₴602M in VAT is noted. The total economic gain from the de-monopolization of the alcohol industry exceeds ₴4B.

In March, the Fund plans to hold four such auctions, including the Lokhvytsky distillery, the Kamyanka distillery, the Kholminsky distillery, and the Hannopil distillery.