SPF postpones Prykarpatoblenergo tender to May 15

The State Property Fund has postponed the privatization tender for Prykarpatoblenergo (PREN), due to take place today, to May 15 due to a lack of claims. Earlier this week, Acting Head of the SPF Dmitriy Parfenenko said that though potential bidders for PREN and another Oblenergo up for sale, Poltavaoblenergo (POON) are waiting for the SPF to lower the starting price for the tender, the SPF did not intend to do so. POON and PREN have the highest starting price-based EV/S multiples among all the Oblenergos up for privatization. See our news comment of May 7 for more on Oblenergo privatizations.