SPF schedules sale of 46% of CHON for November 2009

The State Property Fund included the sale of a 46% stake in power distribution company Cherkasyoblenergo (CHON) in its privatization schedule for November 2009. Earlier, SPF officials announced they were mulling over the sale of 71% of the company this year (i.e., 46% belonging to the SPF and another 25% held by state company UkrEsCo). Alexander Paraschiy: The 46% stake can be only interesting for Energy Standard Group which, by buying the SPF’s stake, would increase its share in the company to more than 60%. Still, for the state, it would be efficient to accumulate and sell the 71% stake, as in this case, the list of potential bidders would be much longer.