5 October 2011
Ukraine’s State Property Fund said the privatization auctions for Zakhidenergo (UX: ZAEN UK, HOLD) and Kyivenergo (UX: KIEN UK, N/R) will be held on November 25, according to the SPF’s press service yesterday. An official announcement is due to be published on October 5. On September 22, the SPF announced the starting price for its 45.1% stake in Zakhidenergo at UAH 335 per share and 25% stake in Kyivenergo at UAH 16 per share, implying revenues of UAH 1.932 bln for Zakhidenergo stake and UAH 432.3 mln for Kyivenergo. The auctions conditions were announced on Monday (see our news dated October 4). Antonina Davydenko: The November date is earlier than we previously anticipated and signals the SPF’s intentions to proceed with the privatization auctions in a timely manner (see more in our flash note dated September 22).