The ownership of the entity was transferred contrary to Ukrainian law. On 9 April 2014, the “Presidium of the Parliament of Crimea” adopted decision No 1991-6/14 “On the amendments to the Resolution of the State Council of the ‘Republic of Crimea’” of 26 March 2014 No 1836-6/14 “On nationalisation of the property of enterprises, institutions and organisations of agro-industrial complex, located in the territory of the ‘Republic of Crimea’” declaring the appropriation of assets belonging to the state enterprise “Zavod shampanskykh vin Novy Svet” on behalf of the “Republic of Crimea”.
In December 2017, 100 % of the shares of the Novy Svet Winery were purchased by Yuzny Proekt LLC, a subsidiary of Rossiya Bank. The new shareholder company is associated with Yuri Kovalchuk, a close friend of the Russian president Vladimir Putin.
Re-registered following reorganisation on 29 August 2017 as Joint-stock company Sparkling wine plant “Novy Svet” (Aкционерное общество “Завод шампанских вин “Новый Свет””). Founder: the Ministry of Land and Property Regulations of the “Republic of Crimea” (Министерство земельных и имущественных отношений Республики Крым).
The enterprise is thus effectively confiscated by the Crimean “authorities”. Re-registered on 4 January 2015 as State Unitary Enterprise of the “Republic of Crimea”“sparkling wine plant ‘Novy Svet’” (Государственное унитарное предприятие Республики Крым “Завод шампанских вин ‘Новый Свет’”). Founder: The Ministry of Agriculture of the “Republic of Crimea” (Министерство сельского хозяйства Республики Крым).