LLC VS Energy International Ukraine, a subsidiary of VS Energy, has won a tender for the sale of 45% stake in regional power supply company Chernivtsioblenergo by offering UAH 70 million for the packet.

The tender was broadcast on the website of Ukraine's State Property Fund.

VS Energy initially offered UAH 65.1 million for the packet with the starting price at UAH 65 million. Its main competitor, LLC Luhansk Energy Union, a company controlled by businessman Mr Konstantin Grigorishin, offered UAH 65.45 million.

A total of seven bids were made during the tender. The price increased to UAH 70 million. Luhansk Energy Union did not offer a bigger bid for the regional energy company and the State Property Fund declared VS Energy the winner.

Two previous tenders for the sale of state packets in Ukrainian power companies were called off because of the absence of a quorum at the tender commission. For instance, the commission could not start work on January 20 for the sale of 50% in Zakarpattiaoblenergo. A tender for 50% in OJSC Vinnytsiaoblenergo did not take place for the same reason.

National company Ukraine Energy Company owns 25% in Chernivtsioblenergo while VS Energy International NV Netherlands holds 21.98%.

Chernivtsioblenergo operates its own distribution grid systems in the Chernivtsi region.

(Sourced from www.interfax.com.ua)