The national budget of Ukraine has received UAH 404.2 million from the sale in late November 2014 of 25% stakes in PJSC Vinnytsiaoblenergo, PJSC Chernivtsioblenergo and PJSC Zakarpattiaoblenergo, the press service of the State Property Fund (SPF) has said.

The SPF specified that the revenue obtained from the sale of stakes in the regional power companies is 2.2-fold higher than their starting price.

As reported, 25% of Chernivtsioblenergo was sold to FK-Zberihach LLC affiliated with VS Energy Group for UAH 36.44 million, a 25% stake in Vinnytsiaoblenergo – Fondovy Aktyv LLC for UAH 112.73 million, 25% of Zakarpattiaoblenergo – Favorit Financial Company LLC for UAH 255.06 million.

Prior to the sale of the blocking stakes, 50% of Zakarpattiaoblenergo belonged to Energy Ukraine TV, 50% of Vinnytsiaoblenergo - Luhansk Energy Union controlled by Konstantin Grigorishin, 67% of Chernivtsioblenergo - VS Energy.