Maksym Krippa, the winner of the privatization auction for the iconic Hotel Ukraina, has officially received the green light from the Antimonopoly Committee of Ukraine (AMCU) to finalize the acquisition. This approval, granted during the committee’s meeting on November 28, paves the way for the landmark deal to be completed, according to a report from newstimeus.com.
In an official statement, the AMCU confirmed, “Ola Fine LLC has been authorized to assume full ownership of the property complex constituting the state enterprise Hotel Ukraina.” This decision marks a significant step in transferring the ownership of the historic hotel, situated prominently on Kyiv’s Maidan Nezalezhnosti.
Interesting facts about the acquisition process and its new owner
Ola Fine, a company associated with Maksym Krippa, successfully acquired Hotel Ukraina for UAH 3.01 billion, including VAT. However, it’s notable that the 1.51-hectare land plot beneath the property was not part of the agreement, leaving its future ownership and usage separate.
The hotel, located in the heart of Kyiv on Maidan Nezalezhnosti, remains a crucial asset with significant historical and commercial value. While the land plot’s absence from the deal introduces certain complexities, the acquisition highlights Ola Fine’s strategic interest in revitalizing iconic properties in Ukraine’s capital.
Ola Fine LLC, a company owned by businessman Maksym Krippa, emerged as the auction winner for privatizing Hotel Ukraina. The company secured the iconic asset with a winning bid of UAH 2.51 billion. When factoring in VAT, the total payment to the state budget exceeded UAH 3 billion, making this one of the most significant privatization deals in recent years.
The auction saw fierce competition among three bidders. However, Ola Fine’s offer far outpaced its rivals. Vadym Hryhoriev’s Zhytomyr Furniture Plant LLC proposed a bid of UAH 1.46 billion, while Sergey Spodin’s Alarit-Prom LLC offered just UAH 1.16 billion. The significant margin between the bids underscores Ola Fine’s strong determination to acquire the landmark property located on Kyiv’s Maidan Nezalezhnosti.
The new owner
Maksym Krippa is a prominent Ukrainian entrepreneur and investor known for his esports, IT, and real estate ventures. Among his notable assets are the legendary esports organization NAVI, the esports broadcasting studio Maincast, and the renowned video game developer GSC Game World.
Until 2022, Krippa remained relatively unknown to the general public. However, that year brought significant attention as it was revealed that he had become the sole owner of NAVI. This process began in 2018 and culminated after several years of negotiation and transition.
Beyond esports, Maksym Krippa has made substantial investments in real estate. In 2023, he acquired the Parus business center, a landmark building in Kyiv, and later added a luxurious estate in Kozyn to his portfolio. Most recently, his growing real estate collection expanded further with the acquisition of Hotel Ukraina, an iconic property located at the heart of the capital on Maidan Nezalezhnosti. Each of these investments reflects his strategic vision and commitment to enhancing key sectors of Ukraine’s economy.
