SPF to sell 53% in CEEN, 61% in DOEN in June

Ukraine’s State Property Fund scheduled the sale of a 53.3% stake in Centrenergo (CEEN UK) and a 60.85% stake in Donbasenergo (DOEN UK) for June 2012, according to a preliminary schedule released Friday. The schedule is still subject to the approval of the Cabinet of Ministers.

Alexander Paraschiy: Both Centrenergo and Donbasenergo shares reacted positively to the January 31 announcement, rising 3.5%+ that day. Given the questionable postponements of the last two privatization auctions for electricity distribution companies (Zakarpatoblenergo (ZOEN UK) on January 20 and Vinnitsyaoblenergo on Friday), we now doubt the government’s commitment to auctioning off more electricity companies and seriously question whether these two large generation companies will be sold off this summer.