Bloomberg News

Ukraine’s Property Fund Delays Sale of 25% Stake in Kyivenergo

November 23, 2011

Nov. 23 (Bloomberg) -- Ukraine delayed the sale of 25 percent in PAT Kyivenergo, a state-owned energy generating and distribution company, for two weeks as the state property fund wants to “check documents” of bidders.

The sale, originally scheduled for Nov. 25, will be held on Dec. 9, the fund, based in the capital Kiev, said today in a statement on its website.

The government set the minimum price for Kyivenergo at 432.3 million hryvnia ($53.98 million). Ukraine’s largest private coal and power producer DTEK, owned by the country’s richest businessman Rinat Akhmetov, and PAT Poltavaoblenergo, an energy distributer, submitted bids to participate in the auction, according to the statement.

--Editors: Douglas Lytle, Alan Crosby

To contact the reporter on this story: Daryna Krasnolutska in Kiev on dkrasnolutsk@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg


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