DTEK ready to defend lawfulness of Dniproenergo's privatization in intl courts
The largest Ukrainian private energy holding DTEK has said that the claim made by the Prosecutor General's Office of Ukraine (PGO) on the purchase of public joint-stock company DTEK Dniproenergo is an attempt to re-privatize it and the holding is ready to protect its interests in international courts.
"In this case, we see an attempt of re-privatizing and pressure on the investor, which is not in line with the official position of the higher agencies of state authorities and the European aspirations of Ukraine. The transfer of responsibility for the organization of privatization procedures from the state authorities and officials to the investor violates all principles of the rule-of-law state and completely dents confidence in the institutions of the Ukrainian authorities," the company’s press service told Interfax-Ukraine.
DTEK said that there are no grounds for revising the results of the privatization of shares in Dniproenergo. The company believes that the privatization was legal and that the price paid was at market value, and that the conditions of the privatization were competitive.
"DTEK will take all measures to protect its rights and legal interests as an investor if it is required, including claims in international courts," the holding said.
DTEK has not received any notifications about offences or court claims from the PGO.
"DTEK believes that this in fact is a gross violation of fundamental guarantees of private ownership established in the Constitution of Ukraine and international law. Respect for private ownership is an unimpeachable value of any democratic state and the basis of its economic development. These actions aimed at revising the results of the privatization make the further inflow of investment to the Ukrainian economy impossible and put the possibility of fulfilling the privatization program for 2015 under doubt and it further prospects in general," reads the report.
As reported, the PGO on April 3 asked a court to declare the sale of state stakes in public joint-stock company Dniproenergo, as well as Donbasenergo and Zakarpattiaoblenergo, as illegal.
