The president of Ukraine, Petro Poroshenko, is selling his Kuznia na Rybalskomu shipyard.

The plant, formerly known as Leninska Kuznia shipyard, is based in Kiev.

The move was revealed by his press secretary Sviatoslav Tseholko on Facebook, the Ukrainian News Agency reported.

"The fund Prime Assets Capital, which manages the assets of Petro Poroshenko, has informed that it has arrived at a framework agreement on the sale of the Kuznia na Rybalskomu shipyard to a national buyer," he wrote.