12:42 03.10.2018

Govt approves starting price of 78.3% stake in Centrenergo at almost UAH 6 bln

2 min read
Govt approves starting price of 78.3% stake in Centrenergo at almost UAH 6 bln

The Cabinet of Ministers of Ukraine has approved the starting price of a 78.289% stake in PJSC Centrenergo, an electricity generating company, at UAH 5.985 billion.

"We approve the resolution, clause 5.11, instructing the State Property Fund of Ukraine to review it in three days, according to the rules, jointly with the Finance Ministry, Economic Development and Trade Ministry and Justice Ministry," Ukrainian Prime Minister Volodymyr Groysman said at a government meeting on Wednesday.

As reported, earlier an advisor to privatize PJSC Centrenergo – Ernst & Young z Corporate Finance sp.k (the Polish division of EY), proposed that the starting price of a 78.3% stake in the electricity generating company is set at $225.479 million.

Along with this, the draft resolution, among the conditions for the sale of the state-owned shares of this company, proposes to approve the obligation to take into account the recommendations of the environmental audit conducted on May 16, 2018 by order of the State Property Fund of Ukraine, and also to send dividends accrued on the stake of shares purchased during the privatization owned by the state before its sale.

In addition to the standard requirements for the potential buyer in the form of timely payment of taxes and fees, preventing arrears of wages, creating fuel reserves for the full operation of the TPP, maintaining the equipment through repairs, there is a condition for the possible operation of the company in the European network of transmission system operators are provided electricity (ENTSO-E).

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