SPF delays Zakarpatoblenergo auction

Ukraine’s State Property Fund postponed the privatization auction for a 50% stake in Zakarpatoblenergo (ZOEN UK) last Friday. Officially, it said the reason was due to a lack of quorum on its privatization commission (which consists of representatives of multiple regulatory bodies). A new auction date has not yet been announced. Two companies filed paperwork to bid for the stake: VS Energy (which already holds 20% of Zakarpatoblenergo) and Energy Standard Group (a nominal participant, in our view). This is the first time in recent privatization history the SPF has put up for sale a controlling stake in an energy company.