Ukreximbank sells Azovmash property for UAH 7 billion

Ukreximbank announced the sale of claims on loans of problem borrowers for a total of over UAH 24 billion. In general, the financial institution put up 7 lots. One of the largest is the property of the Azovmash plant worth UAH 7 billion.

The auction will take place at the OpenMarket site (State Enterprise of the Ministry of Justice of Ukraine). The auction is scheduled for November 11th. The starting price is UAH 7.06 billion. This amount is the remainder of the debt under loan agreements to Ukreximbank, informs Railway Supply magazine.

To participate, you must pay a guarantee fee – UAH 705.9 million. At the auction, Ukreximbank is selling Azovmash property, which served as pledge for problem loans:

• Property rights to proceeds under contracts under pledge agreements;
• Administrative and industrial property at the address: Mariupol, pl. Mashinobudivnykiv, 1, pr. Karpova, 1, B-2;
• Sureties of legal entities;
• Machine tools, auxiliary mechanisms and equipment – 638 units;
• Vacuum unit VAD; – Ladle furnace No. 2-pk-60;
• A set of Molding Machine equipment for the production of steel castings;
• Special metalworking equipment – 43 units;
• Special metalworking equipment used in the main production process – 21 units;
• Special equipment for steel casting – 46 units;
• Special machines, lifting and transporting machines, power plants – 47 units;
• Special metalworking equipment used in the main production process – 51 units;
• Forming line KW-2, which consists of 155 components and steel ladles and auxiliary equipment.

Azovmash’s total debt to banks is estimated at $ 700 million. As a reminder, on October 20-21, Ukrzaliznytsia put up for sale 11 lots of non-core assets in the ProZorro system, with a total starting price of UAH 41.5 million.

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