ARMA prepares for second competition for management of Morshynska

The Asset Recovery and Management Agency (ARMA) has announced the resolution of the long-standing and complex situation involving the seized corporate rights of the IDS Ukraine Group, one of Ukraine's leading producers of bottled water and beverages, including the Morshynska brand. ARMA has also begun preparations for a second management competition.

"We have sorted out the situation that has remained unresolved for years. Now the process has been returned to the legal track, and we are preparing an open competition for the management of IDS Ukraine's corporate rights," the ARMA release on its website states the words of the acting head of the agency, Yaroslava Maksymenko.

It is noted that ARMA has already held a working meeting with the management of IDS Ukraine, during which the parties discussed further steps and state priorities - business development, employee support, and financial transparency.

"The competition will be announced soon. Market consultations on the management of this asset are currently underway," the report says.

According to the information on the website, preliminary market consultations were announced on September 3 of this year and applications were accepted until September 26. There is no information on the results of this stage yet.

In the fall of 2022, ARMA received corporate rights to the Myrhorod and Morshyn plants, as well as the industrial designs and trademarks of IDS Ukraine group enterprises, by court decision. In April 2023, Carpathian Mineral Waters was chosen to manage the Morshynska assets; however, the transfer of assets never occurred. In March of this year, ARMA announced termination of the unimplemented contract.