Odesa Portside Privatization to Take Place on May 4

According to Interfax, the privatization terms of a 99.2% stake in Odesa Portside was published yesterday, which starts a 75 day countdown to the auction date (May 4). Companies will be eligible to participate if they have posted three consecutive profitable years and are not registered in tax-shelter countries. Contrary to the last year’s version, new conditions do not require a bidder to have at least 3 years of experience in fertilizer business. The winner will be obligated to deliver on financial result targets and complete a UAH 1.3 bln (USD 256 mln) 5Y investment program. The starting price of the auction has been set at USD 594 mln. To date, nine companies have expressed an interested in privatizing the fertilizer plant.