PJSC Ukrnaftoburinnia and Cypriot-based Glenshee Holdings Ltd. could buy 99.567% in PJSC Odesa port-side chemical plant, reads a report in the bulletin of the National Commission on Securities and the Stock Market.

Ukrainian businessman Ihor Kolomoisky and MP Vitaliy Khomutynnik held shares in Ukrnaftoburinnia as of August 2016, while Glenshee Holdings was affiliated with businessman Oleksandr Yaroslavsky as of June 2010.

Both companies intend to participate in a privatization tender scheduled for December 14, 2016.

Ukraine's State Property Fund (SPF) has not commented the information, while earlier SPF Head Ihor Bilous said that there are no Ukrainian buyers among companies interested in buying the plant. He said that one of the risks for the tender is a lawsuit with Nortima LLC affiliated with Kolomoisky. His company is fighting for declaring the winner of the previous tender held in autumn 2009. Then the fund decided not to sell the plant, considering the price of UAH 5 billion proposed by Nortima too low.

As reported, the initial price of this stake is UAH 5.16 billion, the bid increment is UAH 150 million. Potential buyers can apply to the State Property Fund with the initiative to sign confidentiality agreements until November 29, 2016. Tender documentation and final draft contracts are accepted until December 6.

Earlier Khomutynnik said he on an equal footing with Ihor Kolomoisky owns Deripon Commercial Ltd. (Cyprus), which in late 2015 held a 44.989% stake in PJSC Ukrnaftoburinnia.

According to the information disclosure system of the National Commission on Securities and the Stock Market, other large shareholders in Ukrnaftoburinnia at the end of 2015 were British-based Ares Systems Ltd. and Ariana Business Limited, registered at the same address in London, with the equal stakes of 22.4996%, and JKX Ukraine B.V. (the Netherlands) with 10%.

The owners of Ares Systems and Ariana Business in British registers are Viola Blue Ltd. and Provost Promotion Inc., trapped in the Panama Papers, respectively.

According to the securities regulator's information disclosure system, Glenshee Holdings Ltd. held 92.9243% of Ukrainian Metallurgical Company as of Q1 2011, which owned 18.5834% in Kharkiv-based UkrSibbank. The NBU said as of early July 2010 that the indirect owner of this stake was Glenshee Holdings Ltd. and the founder of the bank Yaroslavsky, who sold a controlling stake in the bank to France's BNP Paribas.

Yaroslavsky is a minority shareholder in Ukrtatnafta which is under control of Kolomoisky.

State-owned Odesa port-side chemical plant produces chemical goods. It is engaged in transshipment of ammonia on board ships.

The company in 2015 posted a net profit of UAH 211 million against a net loss of UAH 270 million a year earlier, its net income increased by 2.1 times, to UAH 11.195 billion.