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Ukraine puts for sale its biggest power supplying company

February 22, 2012, 13:30 UTC+3
Ukraine put out for sale a 50 percent stake in its biggest power supplying company Dneproblenergo
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KIEV, February 22 (Itar-Tass) — Ukraine put out for sale a 50 percent stake in its biggest power supplying company Dneproblenergo, the State Property Fund said in its statement on Wednesday.

The trigger price is $75 million. The auction is scheduled for April 17.

State-run enterprises as well as companies from the offshore zones and countries that do not cooperate with the world community in the fight against money laundering are banned from the auction.

A new owner should pay off the company’s debts, reduce technological losses and introduce innovations.

Dneproblenergo provides services to consumers in the Dnepropetrovsk region of eastern Ukraine.

In 2011 the company supplied over 23 billion kW/h. Its revenue reached $1.7 billion. Over the past three years the company proved to be profit-making. It employs 7,600 people.

Since late 2011 Ukraine sold stakes in six power generating and supplying companies worth over $400 million.

 

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