Privatization of Energy Facilities in Ukraine

privatization

On May 10, 2018 the Cabinet of Ministers of Ukraine signed an order to approve the list of objects for large privatization, among which there are objects in the field of energy. Among them:

Code ID from the State Register of organizations

Name of the object

Size of shares, percent

22927045

PJSC Tsentrenergo

78,289

00130725

OJSC "Ternopiloblenergo"

50,999

001,30926

PJSC "Zaporizhiaoblenergo"

60,2475

00131954

Kharkivoblenergo Joint Stock Company

65,001

23399393

JSC " Mykolayivoblenergo "

70

22767506

PJSC" Khmelnytskoblenergo "

70,0089

00131771

JSC" Kherson TPP "

99,8328

00130820

JSC" Dneprovskaya TPP "

99,9277

00130850

PJSC" Kryvy Rih Thermal Power Plant"

99,9864

00131050

State Enterprise "Severodonetsk Thermal Power Plant "

 

More about these and other objects can be found on the official page of the State Property Fund.

Since June 5, the rules of transparent sale of small state-owned enterprises and companies with a significant share of state capital have come into force. Thus, the regulatory framework was completely formed, which is necessary for launching a program in Ukraine of small privatization. Under the small objects privatization means assets which value does not exceed UAH 250 million, as well as these are the only property complexes of state-owned enterprises and shares of economic entities, more than 50% of which belong to the state. There are over 600 of such entities. According to the Law "On Privatization of State and Communal Property", which entered into force in March, privatization would take place through the electronic system of ProZorro Sales.

Recall that in January 2018 the new Law of Ukraine was adopted “On Privatization of State and Communal Property". The new law provides for some innovations, in particular:

  1. All state property objects that can be sold are divided into two groups: large privatization objects (worth over UAH 250 million) and small privatization objects (worth less than UAH 250 million) . The objects of large privatization are a limited number of particularly important enterprises, the list of which is approved by the Cabinet of Ministers. The list of privatization of such objects, which are in state ownership, should be approved by the State Property Fund, and the local objects by Municipal Authorities. Lists are open. Small-scale privatizations should be sold through an open online auction. Large privatization objects should be sold at an auction with the involvement of an investment advisor.

  2. Investors are given the opportunity to resolve disputes with the state in international arbitration.

  3. Prohibition of bankruptcy proceedings for 1 year from the date of sale of the object. This will enable the investor to pay off debts and not lose the company in favor of creditors. Also, for up to 3 years the term of a possible appeal of sales results is limited, which will not allow raiders to engage the investor in endless legal proceedings.

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