The Commission for the Selection of a Manager for Complex Assets at ARMA has completed the qualification of participants in the competition for the selection of a manager for the seized assets of the IDS Ukraine group.

The IDS Ukraine group includes the well-known Ukrainian mineral water brands “Morshynska” and “Myrhorodska”. The assets are linked to Russian oligarch Mikhail Fridman, who is subject to sanctions imposed by Ukraine and its international partners.

The Commission, chaired by Business Ombudsman Anka Feldhusen, reviewed the documents submitted by the applicant companies and admitted five participants to the next stage — the electronic auction.

The winner will be the participant that meets the established selection requirements and offers the lowest cost of asset management services. The winner will be automatically determined by the electronic procurement system based on the results of the auction.

“We have verified all five participants for compliance with the qualification requirements. Following the review, the Commission voted to admit them to the next stage of the selection process. ARMA will continue to ensure the legality and transparency of every stage of the procedure — until the final selection of the manager and the transfer of the assets for management”, Acting Head of ARMA Yaroslava Maksymenko stressed.