Ola Fine LLC paid UAH 3 billion as part of the privatization of the Hotel Ukraine

On October 30, 2024, UAH 3 billion was transferred to the State Property Fund as a result of the sale of the first property in a large-scale privatization. Ola Fine LLC, owned by Ukrainian investor Maksym Krippa, became the new owner of the Ukraine Hotel.

The State Property Fund of Ukraine reported full receipt of funds from the sale of the Hotel Ukraine to the state budget and noted that Ola Fine LLC paid the cost of the property in the amount of UAH 2,511,777,888 and additionally transferred UAH 502,355,578 in VAT. The owner of the company, Maksym Krippa, believes that this price is adequate to the current state and future potential of the Ukrainian real estate market.

Maksym Krippa, owner of Ola Fine LLC:

"For me, the acquisition of the Ukraina Hotel is not even an investment, but, above all, a conscious and balanced decision of a Ukrainian citizen. I consider it necessary to support the country during the war in any way possible. This is more than timely, given the fact that the proceeds from privatization will be used to support the Defense Forces and preserve Ukraine's sovereignty."

As a reminder, on September 18, the first auction of the large-scale privatization took place in the ProZorro system. The lot with a starting price of UAH 1.05 billion was the Ukraina Hotel, one of the main symbols of Kyiv, built in 1961.

According to the terms of the sale, the new owner is obliged to maintain the main business profile of the enterprise and provide social guarantees to employees for at least six months from the date of acquisition of ownership.