ARTICLE · 29 JUNE 2023

Ukraine Resumes Large-Scale Privatisations

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On 20 June 2023, President of Ukraine Volodymyr Zelenskyy signed Draft Law No. 8250 amending, among others, the Law of Ukraine "On the Privatisation of State and Municipal Property...

UkraineGovernment, Public Sector

Olena Kuchynska

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June 2023 – On 20 June 2023, President of Ukraine Volodymyr Zelenskyy signed Draft Law No. 8250 amending, among others, the Law of Ukraine "On the Privatisation of State and Municipal Property" (Law), signalling that Ukraine has once again set a course for large-scale privatisations. This time, however, the search for investors in large state-owned enterprises (SOEs) comes from the on-going war and mounting budget deficit.

The Law unblocks the sale of SOEs with book value of over UAH 250 million (approx. USD 6.76 million). It enables the State Property Fund of Ukraine (SPFU) to impose post-privatisation obligations on investors in large SOEs, including maintaining the SOE's core business and paying off wage and tax arrears. The changes do not apply to small-scale privatisations.

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