14:04 29.10.2018

SPF announces tender to privatize Centrenergo

2 min read
SPF announces tender to privatize Centrenergo

The State Property Fund of Ukraine (SPF) has announced a tender to sell 78.289% of shares in PJSC Centrenergo.

The announcement was published in the Vidomosti Pryvatyzatsii newspaper on Monday, October 29.

"In 45 days the tender to sell [Centrenergo's shares] will be held, and the first enterprise of large privatization this year will receive a new owner," SPF Head Vitaliy Trubarov wrote on his Facebook page.

As reported, a tender to sell a 78.289% stake in power generating enterprise PJSC Centrenergo is to begin at 11:00 a.m. Kyiv time on December 13, 2018. The tender will take place, if at least two bidders register for the tender.

The conditions introduced under Cabinet resolution No. 756-r dated October 3, 2018, foresee the payment of dividends to the national budget in the amount of 30% of net profit for 2018 by Centrenergo, whereas the figure in 2017 was 75% and it was 50% in 2016.

In addition, the government guarantees compensation to a potential investor for losses that the generation company could potentially incur before the date of transfer of the package to the new owner. This concerns any court decisions, which entered into force after the date of transfer of ownership of the shares or the corresponding accrual of taxes, fees or fines.

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