SPF adds Cherkasyoblenergo to 2009 privatization schedule

The State Property Fund, in its official newspaper on Wednesday, added the privatization of a 46% stake in Cherkasyoblenergo (CHON) to its 2009 schedule – the first in a new set of Oblenergo stakes to make the list. Amendments to the timeline indicate that the SPF will announce an auction in November, which would imply an auction date in December 2009-January 2010. Yegor Samusenko: We believe the SPF will amend the schedule once again to expand the size of the Cherkasyoblenergo stake it plans to sell. Earlier this year, the SPF said it would sell a 71% stake in the company; an additional 25%+1 stake is currently held by UkrEsco, a state company, and should be transferred to the SPF shortly. For more, see our note on Oblenergo privatization prospects of August 19, 2009.