11:37 20.08.2018

Ukraine not to privatize State Food and Grain Corporation

1 min read

The State Property Fund (SPF) of Ukraine has decided to repeal a decision on the privatization of PJSC State Food and Grain Corporation, which was adopted in early December last year.

A new resolution was adopted on August 7 this year, the SPF's Kyiv office said in an announcement in the Vidomosti Pryvatyzatsii privatization bulletin on Monday, August 20.

An entire 100% stake in PJSC State Food and Grain Corporation was supposed to be sold this year and the asset was included in the provisional list for privatization in 2018, but the government excluded it.

First Deputy Minister of Agrarian Policy and Food Maksym Martynyuk said at the end of May that the corporation needed to be privatized, but for this it was necessary to restructure a $1.5 billion loan issued by the Export-Import Bank of China. According to him, the loan agreement provides for the approval of creditors for any change in the corporation's ownership.

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