The submission deadline for participation in the ARMA competition to select a manager for one of the largest seized assets in Ukraine – the assets of the IDS Ukraine group (which includes the brands «Morshynska» and «Myrhorodska») – has expired.

Within the established deadline, one competition proposal was submitted. In accordance with the terms of the competition and the principle of ensuring a competitive selection process, ARMA will announce a repeated competition to select an asset manager.

Preparation for this competition lasted almost a year. During this time, an independent valuation of the assets was conducted, the management terms were developed and the procedure was carried out in accordance with the updated approaches to the management of seized assets. The updated approaches provide for higher requirements for candidates, strengthened selection criteria and additional mechanisms for monitoring the management of strategic assets.

ARMA conducts its activities and the competition based on the principles of transparency, competitiveness and legality, ensuring the selection of an asset manager exclusively in the interests of the state.

The key objective is to identify the most professional and effective manager capable of ensuring the proper management of this strategic asset. Therefore, ARMA will continue the procedure in accordance with the requirements established by law and will work to attract the broadest possible range of potential market participants.

For reference. The assets of the IDS Ukraine group were seized in 2022 due to their connection with Russian oligarch Mikhail Fridman, who is subject to sanctions imposed by Ukraine, the United States, the European Union, the United Kingdom and other partner countries.