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Ukraine's Government To Speed Up Decision On Privatization Of Luganskteplovoz.

Ukraine's Government To Speed Up Decision On Privatization Of Luganskteplovoz.

30 December 2008

Prime Minister Yurii Yekhanurov said that by February 15, the government will have prepared all privatization documents. He added that the government is now considering purchasing locomotives for USD 138 mln from Luganskteplovoz (LTPL) for Ukrzaliznytsya. Concorde Capital: Transmashholding (Russia) and AvtoKrAZ (KRAZ: HOLD) are the most likely buyers of the state-owned 75% stake of Luganskteplovoz. Canadian Bombardier has also been rumored to be interested. In 2001 AvtoKrAZ was the only bidder for LTPL, nevertheless, the State Property Fund refused to qualify it as an industrial investor. Afterwards AvtoKrAZ won a court decision to be named as the winner, however, due to legal controversies the respective agreement has never been signed.

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