Ukraine’s State Property Fund (SPF) recently announced that it plans to sell large stakes in several Ukrainian plants. In particular, the state-owned stakes of 99.6% in Odessa Port Plant, 75.2% of Turboatom, 50% of Azovmash, and 99,9% Sumykhimprom will be up for tender. A government decision is necessary to carry out the privatization of Turboatom and Azovmash. In addition, Turboatom needs to bring its operations into compliance with the requirements of the Law On Joint Stock Companies.
If SPF manages to get its target price for these companies as well as a number of energy companies, hitting the 2014 privatization plan of UAH 18.2 billion (USD 2.2 billion) may become realistic, says Andrey Bespyatov, head of the analytical department at Dragon Capital. Continue reading