Turboatom among potential Rosatom acquisition targets

Russia’s Rosatom is seeking to acquire assets in Ukraine by yearend, The Moscow Times reported yesterday, citing Deputy Chief Executive Kirill Komarov. Turboatom (UX: TATM UK) is one of the assets under review, Komarov said. Vitaly Gorovoy: Turboatom has been subject to a long-standing corporate conflict between its two major shareholders, the State Property Fund of Ukraine and businessman Konstantin Grigorishyn, which respectively control 75% and 15% stakes in the company. Thus, privatization to a strategic investor like Rosatom could resolve the shareholder dispute. We also note that Turboatom was removed from Ukraine’s list of assets prohibited from privatization by parliament in February 2011.