Penza Bicycle Plant (ZIF)

History

2024: SZ Parus bought ZIF for ₽1,2 billion

The Risan group of companies through the Specialized Developer Parus LLC acquired the property complex of the Frunze Bicycle Plant with an area of ​ ​ 55.5 hectares in Penza for ₽1,2 billion. Information about the transaction is confirmed by documents of the arbitration court. This became known on November 5, 2024.

According to Volga.news, the seller was Polad Joint-Stock Company, which received the rights to the property complex as a result of bankruptcy proceedings that lasted from 2006 to 2023. The acquired property includes dispatching rooms, warehouses, a fire station, garages, as well as a carpentry, woodworking and bicycle assembly shops.

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Freepik

Polad JSC, owned by Victor Popov, has used an industrial site for the production of car kits since 2000. After changing the ownership structure of AvtoVAZ, the company began bankruptcy proceedings, which ended with the consolidation of assets in favor of Polad JSC.

According to the publication, in parallel, the bankruptcy of ZIF Plus OJSC, which owned part of the property on the territory of the plant, took place. The procedure lasted from 2015 to April 2024 and ended with a settlement agreement. The total amount of creditors' claims reached ₽280 million, of which ₽212 million were accounted for by the structures of Polada JSC.

The interregional territorial department of the Federal Property Management Agency in August 2024 initiated a trial, demanding to cancel the chain of transactions between companies. In September 2024, the department achieved the introduction of a ban on registration actions with the property complex.

SZ Parus on October 21, 2024 filed an appeal against the decision to introduce interim measures. An independent assessment found that the use of the facilities was unsafe and that restoring them was not economically feasible.^[1]

Notes