Beneficiary of public joint-stock company Donbasenergo, an electricity generating company, Robert Bensh does not plan to participate in a tender to privatize the blocking stake in the company, he has told Interfax-Ukraine.

"At present I am not planning on participating in the auction. When I purchased the shares [in Donbasenergo] from Ihor Humeniuk, the intent was to create an integrated energy investment portfolio that produced power, drilled and produced oil and gas as well as participated in solar and wind energy. While that may seem broad, the timeline I have for investment is over a ten year time period. So we're not looking to purchase an additional interest in a business in which we have a controlling majority stake," he said.

"We remain focused on assets that are deeply undervalued in the sector, either due to mismanagement, or in the case of Donbasenergo, assets that are located in the Donbas or had majority ownerships of business groups or people that were close to the former Regions Party," he said.

He did not have any claims to the conditions of the tender to privatize the blocking stake.

"The auction seems fair. Naturally I would prefer a higher valuation attributed to the business. Given the stake being sold and the location of the business, I understand and can agree with the valuation discounted," he said.

As reported, the tender to sell the blocking stake in the company is scheduled for August 16 on the Ukrainian Interbank Currency Exchange. The starting price is UAH 669.2 million.

Donbasenergo operates Starobesheve (located in the occupied territory) and Sloviansk thermal power plants.