State Property Fund selects appraiser for Zakhidenergo

Ukraine’s State Property Fund announced the appraiser for its 45.1% stake in electricity generator Zakhidenergo (ZAEN UK) yesterday. The appraiser will now have about a month to complete their valuation. After that, the only bidder for the stake, DTEK (DTEKUA), will have the option to buy it at the appraisal value or UAH 1,932.1 mln (the price DTEK bid for the stake), whichever is higher. Alexander Paraschiy: We believe the appraisal will be more of a formality (as it was with Ukrtelecom a year ago), and DTEK will pay close its bid price (UAH 334.9/share, +34% to the current market price).