26 October 2011
Two bidders have filed documents to privatize Kyivenergo (UX: KIEN UK, N/R), while one turned out for Zakhidenergo (UX: ZAEN UK, HOLD), the State Property Fund of Ukraine announced yesterday. The starting price for the state’s 25% stake in Kyivenergo was set at UAH 432.3 bln and 45.1% stake in Zakhidenergo at UAH 1.93 bln. Both auctions are scheduled for November 25. We still see DTEK as the most likely bidder for both stakes, as it is the only candidate that would be able to gain control over the companies via privatization of these stakes.