Cabinet To Put State's Stake In Oranta Insurance Up For Sale.

Prime Minister Yurii Yekhanurov announced the Cabinet’s plans to sell the state’s 25% +1 stake in Ukraine’s fourth largest insurer, Oranta Insurance. Yekhanurov said that the need to increase revenues in the state budget was the government’s main motivation for this decision. The state’s stake in Oranta Insurance is valued at roughly USD 6.7 mln.  Allegedly Viktor Pinchuk, through his holding companies, controls over 50% of Oranta. Ukrosotsbank (USCB: BUY) has a 14.4% stake in the company.