President Yanukovych cancels ban on privatization of GenCos and Turboatom

Ukrainian President Viktor Yanukovych, in a decree issued on Friday, cancelled an order from his predecessor that banned the privatization of electricity generating companies (GenCos), Turboatom (UX: TATM UK), the Odessa Portside Plant and number of other assets. Yegor Samusenko: We see cancellation of the old decree as the last barrier as clearing the last barrier to starting the privatization process for Ukraine’s electricity generating companies. Zakhidenergo (UX: ZAEN UK) and Dniproenergo (UX: DNEN UK) have been named as the most likely to be put up for privatization first, according to the State Property Fund. However, we expect the entire GenCos sector to react positively as soon as the first privatization auction is announced.