By The European Times | Created at 2026-07-29 14:17:28 | Updated at 2026-08-05 03:43:50
6 days ago
Russia has included in its privatization program for 2026-2028 the Lipetsk confectionery factory “Roshen”, a former asset of the Ukrainian corporation Roshen, associated with former Ukrainian President Petro Poroshenko. The state plans to sell 99.9% of the shares of the enterprise, which is currently owned by the Russian Federation and managed by the Family.
The paradox is that the potential buyer will acquire a factory without real production. The enterprise has not been operating since 2017, and in recent years has not reported any income.
The factory was transferred to the Russian state in 2024 following a decision by a court in Lipetsk at the request of the Russian Prosecutor General. The court ruled that the shares of the enterprise and the shares in the affiliated company “Rosen” should be transferred to the Russian Federation. The Russian authorities have also banned the activities in the country of Petro Poroshenko, his son Alexei, and former factory director Oleg Kazakov, labeling them “extremists.”
Former asset worth hundreds of millions of dollars
Roshen acquired the Lipetsk factory in 2001. The enterprise produced about 60 types of confectionery products and was one of the company’s largest assets outside Ukraine. After the cessation of production in 2017, Roshen’s assets in Russia were valued at about $200 million.
Even before its closure, the factory was the subject of inspections and disputes. In 2015, Russian authorities began investigating allegations by company representatives about the alleged embezzlement of funds amounting to 180 million rubles during the construction of the enterprise.
Following tax audits in 2017, the Russian Federal Tax Service filed claims against the company for about 150 million rubles. The problems continued even after the factory was taken over by the state. This year, tax authorities sought security on the company’s assets for debts of 156 million rubles. Against this background, for 2025 the factory reported a net loss of 31.8 million rubles.
It is currently unclear whether there will be an investor ready to restore production, or the factory will be sold mainly for its assets and property.
Source: Roshen
