The Antimonopoly Committee of Ukraine has officially allowed Ola Fine, a company controlled by Maksym Krippa, to privatize the Ukraina Hotel in Kyiv. This information was published on the Bank.co.ua portal and is based on the Committee’s announcement on 28 November.
It is worth noting that the Ukraina Hotel was the first large-scale facility to be transferred to private ownership during the full-scale war.
Under the terms of the agreement, the hotel’s ownership was transferred to the new owner after the Antimonopoly Committee of Ukraine officially approved the concentration. Ola Fine LLC paid UAH 3.01 billion (including VAT) for the property. At the same time, the 1.51-hectare land plot on which the hotel is located was not part of the deal.
What was the acquisition process like?
On 18 September, Prozorro.Sale held an auction that attracted considerable interest—the privatization of the Ukraina Hotel, one of the key facilities in the capital’s center. As a result of the competition, Ola Fine LLC, whose beneficiary is well-known entrepreneur Maksym Krippa, also the owner of NAVI, won the auction.
According to the State Property Fund of Ukraine, the final sale price was UAH 2.5 billion, which underscores the importance of this transaction for privatizing state assets.
The bidding for the hotel was fiercely competitive. Three companies took part in the auction, which increased the price by more than 2.4 times the initial UAH 1.04 billion. Among the competitors were Zhytomyr Furniture Plant LLC, with an offer of UAH 1.46 billion, and Alarit-Prom LLC, with an offer of UAH 1.16 billion.
The lot comprised 14 properties with a total area of 26.3 thousand square meters. It included hotel premises, offices, and car parks, making the offer particularly attractive to investors interested in expanding their assets in Kyiv.
Information about the new owner of the property
Maksym Krippa is a Ukrainian investor known for success in esports, IT, game development, and real estate. His investment portfolio includes the NAVI esports team, Maincast broadcast studio, and video game developer GSC Game World. Until 2022, Krippa remained a little-known public figure, but after the outbreak of a full-scale war, he began to demonstrate his activities more actively. In particular, it was in 2022 that his complete ownership of NAVI was confirmed, which had been negotiated since 2018.
Maksym Krippa’s recent acquisitions include the Parus business center in the heart of Kyiv, which was acquired last year, and a luxury estate in the suburbs of Kozyn. Hotel Ukraina has become another strategic asset to add to its investment portfolio.
