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October 07, 2008


Ukraine to sell 60% stake in 4 utilities in 2008

Ukrainian News Agency reported that cabinet of ministers of Ukraine has decided to sell a 60% stake plus one share in each of the Dniproenerho, Tsentrenerho, Zahidenerho and Donbasenerho power generating companies in 2008.

The cabinet of minister’s directive No 478-r dated March 19th 2008 approved the decision and made the relevant amendments to the addendum No 1 to its resolution No 367 of February 22nd 2008.

As Ukrainian News earlier reported, the cabinet of ministers recently postponed transfer of management of a 60% stake plus one share in each of Dniproenerho, Tsentrenerho, Zahidenerho and Donbasenerho to the State Property Fund because of the need to agree the transfer with Mr Viktor Yuschenko president of Ukraine.

At present, 85.77% of the shares in Donbasenerho, 70.1% of the shares of the Zakhidenerho and 78.29% of the shares of the Tsentrenerho have been contributed to the statutory capital of Energy Company of Ukraine, a national joint stock company.