09:51 05.11.2018

Germany to provide Ukraine with expert assistance in privatization process of state enterprises – Sayenko

2 min read
Germany to provide Ukraine with expert assistance in privatization process of state enterprises – Sayenko

Prime Minister of Ukraine Volodymyr Groysman and German Chancellor Angela Merkel at a meeting in Kyiv have agreed to provide German expert assistance to Ukraine in the privatization process of state enterprises, Minister of the Cabinet of Ministers of Ukraine Oleksandr Sayenko has said.

"We have agreed that there will be a separate expert from Germany who will work with the working group on privatization," Sayenko said on the air of Novoye Vremia (New Time) Radio station, the press service of the Cabinet of Ministers said on Saturday.

According to the minister, not many state-owned objects fall under the criteria of "large-scale privatization," and each of them has significant problems (either toxic shareholders, or large debts, or the production process is made dependent on a particular intermediary, etc.).

"Considering this, the term of preparing the objects of the "large-scale" privatization for sale will take a long time - from six months and more," Sayenko said.

The minister recalled that today Centrenergo is the closest to the sale - the auction for the sale of the state package will be held on December 13 of the current year.

"And the next year we will advance in sale of the following objects from this list," he added.

As reported, on October 29, the State Property Fund of Ukraine (SPF) announced a tender to sell 78.289% of shares in PJSC Centrenergo.

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 SPF also selected investment advisors to prepare 11 out of 23 objects for the sale from the list of "large-scale" privatization for 2018. In particular, the state has hired advisors with the highest reputation, including White & Case, E & Y, KPMG, BDO, and Baker McKenzie.

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