Luhanskteplovoz Bidders Announced.

The State Property Fund announced that it had received official confirmation from five groups planning to take part in Luhanskteplovoz’s (LTPL: HOLD) privatization tender, set for Oct. 3. They include Transmashholding (Russia), Siemens (Germany), Koley Baltycka (Poland), AvtoKrAZ (KRAZ: BUY) and Energy Standard (owned by local businessman Konstantin Grigorishyn), and Poland’s Koley Baltycka all plan to take part in the tender. The SPF has set a starting price of $57m. Nick Piazza: The SPF’s conditions for the tender, which include ensuring increased exports of locomotives to CIS countries, will likely make Transmashholding the most aggressive bidder. The conditions also include an obligation to invest $59m in modernization within three years, to increase the company’s sales by 20% each year for the first three years after privatization, to satisfy the state railway’s demand for electric trains and spare parts, and to launch production of new models of electric trains and locomotives.