UkrESCO to sell 25% stake in Cherkasyoblenergo

UkrESCO, a state-owned company, plans to sell its 25% stake in Cherkasyoblenergo (CHON: SELL), the State Property Fund of Ukraine said yesterday. The final decision on selling the Cherkasyoblenergo stake will be made by the SPF, which owns 99.7% of UkrESCO, at the latter’s AGM (date not yet disclosed). Alexander Paraschiy: 46% of Cherkasyoblenergo is controlled by the National Energy Company of Ukraine, another state-controlled company; over 26% belongs to companies related to Konstantin Grigorishyn, who is the main candidate to acquire the blocking stake in Cherkasyoblenergo. We believe all the private players on Ukrainian electricity market (including SCM, Privat and VS Energy) will take part in a tender, if it does occur.