The State Property Fund of Ukraine (the “Fund”) has recently approved a schedule for privatisation of Groups C and D* state-owned companies in 2015 (the “Schedule”).
The Schedule divides Groups C and D objects into the following three categories: (1) companies to be put on sale through tenders with open price offers (using the auction principle), (2) companies to be put on sale at stock exchanges and at regional open cash auctions, and (3) companies that will be put on sale following a decision of the Cabinet of Ministers of Ukraine on their privatisation and/or transfer of their stock to the Fund.
Below are some examples of the companies, by reference to a category, to be put on sale through December 2015.
Within category (1) the sale is scheduled as follows:
- September: a 70% stake in Mykolaivoblenergo Public Joint Stock Company (“PJSC”), a 70.009% stake in Khmelnytskoblenergo PJSC, a 50.999% stake in Ternopiloblenergo PJSC and a 50% stake in Ukrnaftoprodukt PJSC;
- October: a 65.001% stake in Kharkivoblenergo Joint Stock Company;
- November: a 94.99% stake in Odeska CHP PJSC, a 94.833% stake in Khersonska CHP PJSC and a 94.567% stake in Odesa Port Plant PJSC;
- December: a 55.248% stake in Zaporizhzhiaoblenergo Open Joint Stock Company (“OJSC”) and a 94.995% stake in Sumykhimprom PJSC.
Within category (2) the sale is scheduled as follows:
- July: a 5% stake in of each of Odesa Port Plant PJSC, Odeska CHP PJSC, and Khersonska CHP PJSC;
- August: a 25% stake in each of DTEK Dniprooblenergo PJSC, DTEK Dniproenergo PJSC, Kyivenergo PJSC and DTEK Zakhidenergo PJSC;
- September: a 5% stake in Zaporizhzhiaoblenergo OJSC;
- November: a 25% stake in Odesaoblenergo Energy Company PJSC and a 100% stake in Meridian Aviation Special Purpose Company PJSC;
- December: a 25% stake in each of Donbasenergo PJSC and DTEK Donetskoblenergo PJSC, a 46% stake in Cherkasyoblenergo PJSC and a 16.537% stake in Mine named after Zasiadko PJSC.
The sale of all power facilities within the two categories above as well as of Odesa Port Plant PJSC will be held only following a decision of the Cabinet of Ministers of Ukraine approving the terms of their sale.
The sale of category (3) companies, which includes Centerenergo PJSC (a 10% stake to be sold at a stock exchange and a 68.29% stake – through a tender with open price offers), Mykolaivska CHP PJSC (a 5% stake at a stock exchange and a 95% stake - through a tender with open price offers), Central Processing Plant Vuglegirska Private Joint Stock Company (a 41% stake to be sold at a stock exchange), DTEK Oktiabrska Central Processing Plant PJSC (a 38.25% stake to be sold at a stock exchange) and DTEK Dobropilska Central Processing Plant (a 38.25% stake to be sold at a stock exchange) will be held in September through December following approval of their privatisation by the Cabinet of Ministers of Ukraine and/or transfer of their stock to the Fund.