Bloomberg News

DTEK to Vie for Ukrainian Energy Distributor, State Fund Says

April 13, 2012

Ukraine’s State Property Fund plans to auction a 50 percent stake in energy distributor PAT Dniprooblenerho next week.

The fund authorized DTEK, Ukraine’s largest private coal and power producer, and TOV Luhanske Energetychne obiednannya, to bid for the holding on April 17, according to a statement on the fund’s website today.

Bidding for the stake will start at 600 million hryvnia ($74.7 million), the fund said.

Kiev-based DTEK, owned by Rinat Akhmetov, Ukraine’s richest man, last month acquired 25 percent of energy producer PAT Dniproenergo (DNEN), marking its fourth purchase in a power company since December.

DTEK has also acquired 25 percent of PAT Kyivenergo (KIEN), a state-owned energy generating and distribution company, 40 percent of power distributor PAT Donetskoblenergo (DOON), and 45 percent of electricity producer PAT Zakhidenergo. (ZAEN)

-- Editors: James Kraus, Torrey Clark

To contact the reporters on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net;

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net;


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