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Ukraine announces privatization of two energy companies

November 16, 2011, 15:18 UTC+3

The fund published the announcement on Wednesday at the Uryadovy Kurier governmental news paper

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KIEV, November 16 (Itar-Tass) —— Ukraine’s State Property Fund has announced the organization on January 11, 2012 of competitions for privatization of 25 percent of shares of Dneprenergo energy generating company and of 40 percent of Donetskoblenergo energy supplying company.

The fund published the announcement on Wednesday at the Uryadovy Kurier governmental news paper.

The bid price of the state package of Dneprenergo is 1,174 million hryvnas /146.8 million dollars/, and that of Donetskoblenergo is 449.5 million hryvnas /56.2 million dollars/.

The fund presents certain qualification requirements for future buyers, as well as investment obligations.

For example, a buyer of Dneprenergo should provide for the term to 2016 keeping of the stated capacity of the company’s energy blocks, use for production of heat and electricity energy at least 70 percent of Ukraine-produced coal.

Future investor in Donetskoblenergo will have to settle the company’s debts for electric energy bought in wholesale market, to cut technology losses of electricity in the company’s networks.

Selling parts of state packets in Dneprenergo and Donetskoblenergo is organized in the framework of Ukraine’s ‘second stage’ of energy companies’ privatization. On November 25, the country had competitions for selling state packets in Kievenergo and Zapadenergo, which were the first offers after a long break in the privatization process in the sphere of electric energy.


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