11:18 05.04.2017

Ukraine committed to privatization of Odesa Port-Side Plant in H1 2017, Turboatom, Centrenergo by end-Sept – memo with IMF

The Ukrainian authorities remain committed to the privatization of PJSC Odesa Port-Side Plant by the first half of 2017 and in parallel, they plan to initiate the privatization of a number of large state-owned enterprises (SOEs) identified for privatization by end-September 2017, according to a memorandum of Ukraine and the International Monetary Fund (IMF) published on Tuesday.

"In parallel, they plan to initiate the privatization of a number of large SOEs identified for privatization by end-September 2017: PJSC Centrenergo, Turboatom, whose shares will be immediately transferred to the State Property Fund of Ukraine (SPFU), and the regional energy distribution companies, obloenergos," the IMF said.

According to the document, similarly, the Ukrainian government expects the adoption of legislation allowing for the full privatization of Ukrspirits, Ukraine’s state-owned producer of spirits, which consists of about 150 related SOEs, by end-March 2017, with the objective to have the contest sale completed by end-September 2017.

Parliament will adopt amendments to the privatization law to improve transparency and safeguards, and to further streamline the privatization process for medium-sized enterprises by end-August 2017 (a new deadline for this structural benchmark, reset from end-December 2016).

In addition, based on the triage and facilitated also by the adoption of legislation to reduce the list of companies banned from privatization, expected by end-June 2017, we will develop a schedule for transferring additional SOEs from the line ministries to the SPFU. The shares of all companies that are planned to be offered for sale in 2017 will be transferred to the SPFU by end-March 2017.

The authorities also said that they will streamline and accelerate the privatization of small SOEs and of thousands of small assets (buildings, machinery, etc.) currently in state hands, including by holding electronic auctions through our Prozorro system.

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