Today, the State Property Fund is to announce a competition for an auction to resell the Ukrbud company.
Whether the state will receive its funds depends on this agreement, writes journalist Yanina Sokolovska.
“The previous summer competition was actually canceled, because the winner, a company affiliated with Maksym Mykytas, never raised the funds to fulfill its initial obligations,” Sokolovska recalled.
As is known, on June 18, the Georgian company Petro Oil and Chemicals LLC won the auction, offering UAH 805 million. However, it later turned out that the company had Russian capital. As a result, the auction was canceled, and the next participant, Techno-Online LLC, associated with Mykytas, was recognized as the winner.
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The winner was supposed to pay almost UAH 800 million by August 11, but did not do so.
Sokolovska notes that strange processes are taking place that can be regarded as a “civil war” between the State Property Fund and the auction participants.
“For example, the Fund's appeal regarding the provision dated 06.08 was left without action by the Commercial Court of Appeal for formal reasons – namely, because the Fund did not send a copy of the decision to the parties via the electronic court. It is quite a strange game on the part of the Fund to imitate activities, but not achieve a result,” writes Sokolovska.
In addition, a meeting has been scheduled for September 1 to cancel the counter-security order approved by the court on August 14, which obliged Mykytas to pay UAH 800 million.
According to the journalist, it is likely that the counter-guarantee will be canceled, while the primary one will remain in force, which will allow Mykytas and his partners to endlessly delay payment for Ukrbud.
“The ultimate goal is to get their hands on another state asset, manipulating state structures and courts and doing everything to ensure that the state does not receive its money,” Sokolovska believes.
Earlier, the media reported that on June 18, the State Property Fund held an auction to sell a state-owned stake in the amount of 100% of the authorized capital of State Joint Stock Company “Construction Company “Ukrbud”.
As the media reported, Techno-Online LLC is a company behind which stands not only the former owner of Ukrbud, Maksym Mykytas, but also Vasyl Astion, to whom Mykytas allegedly turned for help in finding funds to purchase Ukrbud.
On August 6, the Kyiv City Commercial Court granted the application of Techno-Online LLC to prohibit the SPFU from conducting any transactions, including concluding purchase and sale agreements or accepting funds.
It is noted that Astion's company BILART LLC became the founder (Astion's brother Yevgen is the beneficial owner in the company), and now owns 66% of Techno-Online LLC: “On August 5, 2025, the founder's share in the authorized capital changed from 46,000 to 15,640”, the ultimate beneficiary of which is Vasyl Astion. Before that, TECHNO-ONLINE LLC changed its place of registration from Kyiv to the frontline city of Sumy, which is bombed daily by Russian troops. Other enterprises controlled by Mykytas also changed their registration in a similar way (in particular, Metrobud PrJSC (code 32 961 977), which “moved” to Sumy on June 11, 2025).”
As UNIAN wrote, “Mykytas is unlikely to have relocated his enterprises closer to the front line for patriotic reasons; most likely, either some kind of “destruction of documents” by enemy shelling is being prepared, or he has found a corrupt service of the relevant state bodies in Sumy.”
According to media reports, Techno-Online has minimal turnover, in particular, last year assets amounted to 22.2 thousand hryvnias, revenue – 37.4 thousand hryvnias, while net losses – 25.6 thousand hryvnias. Over the years of its existence, the LLC has not had any serious contracts and agreements, and participation in tenders is limited to refilling and repairing toner cartridges worth 1,500−2,600 hryvnias.
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“There is also information that the beneficiaries of PETRO OIL AND CHEMICALS LLC have reached an agreement with the beneficiaries of TECHNO-ONLINE LLC to fill the latter company with financial resources while masking the real sources of origin of the funds (which are likely of Russian origin) by distributing particles in the acquired object,” UNIAN reported.
Photos from open sources
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