In Russia they wanted to sell a nationalized plant for a billion rubles

The Federal Agency for State Property Management (Rosimushchestvo) put up for auction 99.995 percent of the shares of the Ekaterinburg drug manufacturer Uralbiopharm. Kommersant reports this.

The initial cost of the asset nationalized in 2023 is 977.1 million rubles. To participate in the auction, it is necessary to transfer a deposit in the amount of 195.4 million rubles. The auction is scheduled for November 9, and applications will be accepted until November 3.

The previous owner of the company was ex-State Duma deputy Malik Gaisin. Since December 2024, the plant has been headed by Alexander Serebrennikov, deputy of the legislative assembly of the Sverdlovsk region from the United Russia party.

The company's revenue last year amounted to 1.22 billion rubles, and the sales loss reached 99.5 million rubles. Net profit decreased 66 times, to one million rubles.