14:28 10.01.2019

SPF, IMF agree on cooperation to settle problems of blocking privatization of large companies

1 min read
SPF, IMF agree on cooperation to settle problems of blocking privatization of large companies

Acting Head of the State Property Fund of Ukraine (SPF) Vitaliy Trubarov and International Monetary Fund (IMF) Resident Representative in Ukraine Goesta Ljungman have signed agreements to solve the problems blocking privatization of large companies.

"We agreed with IMF Resident Representative Mr. Ljungman jointly to solve problems that block the process of privatization of large companies," Trubarov wrote on his Facebook page.

At the same time, he recalled that among the conditions for continuing cooperation with the IMF is the start of the sale of large companies from the list of privatization in 2019.

He also said that a consortium of investment advisors selected at tenders last year cannot start preparing companies for privatization due to lawsuits.

"In fact, since April of last year, the Odesa Port-Side Plant has been idle, and the investment adviser Pericles Global Advisory in the consortium with White & Case LLP, Kinstellar, KPMG Ukraine and SARS Capital cannot begin the process of preparing for the privatization and restructuring of the plant's [debts], including to NJSC Naftogaz, which would allow the enterprise to start production," Trubarov said.

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