NBU revoked the sale of Delta Bank's oil and fat assets for possible manipulation

The National Bank of Ukraine (NBU) revoked its decision No. 280-рш of April 9th, 2019, to authorize the pool of assets sale pledged by Delta Bank to the National Bank.

The pool includes property rights under a number of loan agreements worth UAH 4.9 billion, under which the capacity of oil and fat plants in Odesa region and infrastructure in the port of Chernomorsk were pledged.

"The National Bank considers the auction to be held in the presence of circumstances and possible manipulations on the part of the buyer, which could affect the outcome of the auction and the sale of the property at an underestimated cost," reads the statement.

Financial Company Sky owned by Andrey Verevskiy, Chairman of the Board of Directors of Kernel, with an offer of UAH 182,5 million became the winner of the Deposit Guarantee Fund auction for the sale of Delta Bank’s pool of assets for UAH 4,85 billion held on June 7th.

The NBU sees possible abuses in the buyer's actions, Financial Company Sky, as the assets cannot be depreciated several times in three months. Accordingly, the National Bank, as a pledgee of some assets, informed the Deposit Guarantee Fund about the cancellation of its previous decision giving consent to the sale of assets due to the circumstances that could have affected the outcome of the auction and the sale of the property at an underestimated value.

"The National Bank trusts that having analyzed all the information at its disposal, the Deposit Guarantee Fund will make a balanced and responsible decision on further actions," the NBU says in the statement.

Kernel company has not commented on the National Bank statement.

Previously reported that the Deposit Guarantee Fund established the connection between the participants of the first and the second auction for the sale of the Delta Bank loan pool.