REUTERS
Ukraine's Cabinet on May 10 endorsed a list of companies for large-scale privatization in 2018.
Ernst&Young, which was selected as an adviser on the sale of Public Joint-Stock Company (PJDC) Centrenergo, a large power generating company, has assessed a state 73.8% stake in the company at UAH 5.985 billion (US$225.48 million).
Read alsoUkraine's state-owned Centrenergo cuts net profit by 78.3% in 1H 2018
"Taking into account the periods of approval by the State Property Fund of the terms of contracts with advisers and approval by the Cabinet of Ministers of advisers selected at competitions, preparations for the privatization of the companies may be launched only in late 2018 or early 2019. Thus, only a 78.289% stake in Centrenergo's charter capital may be sold in 2018," the Finance Ministry said on its website in an analysis of fiscal risks and their possible impact on the national budget in 2019.
"As of August 2018, the company the [Ernst & Young] company determined the starting price of the said stake in this company [Centrenergo] at UAH 5.985 billion, or $225.48 million," the document said.
As UNIAN reported earlier, the Ukrainian government in early September 2018 approved the schedule of preparations for the privatization of PJSC Centrenergo, according to which the tender for the sale of company's shares will be held at the end of November this year.
Ukraine's Cabinet on May 10 endorsed a list of companies for large-scale privatization in 2018.
Centrenergo is to be the first enterprise among the said companies, which is expected to be sold this year.
Ernst&Young is an adviser on Centrenergo's privatization.
PJSC Centrenergo is one of Ukraine's leading electricity generating companies. The state owns 78.289% of the company's shares. Centrenergo consists of three thermal power plants – Vuhlehirska, Zmiivska, and Trypilska – with the total installed capacity of 7.665 GW, which is 14% of Ukraine's overall power generation capacity. Centrenergo supplies electricity to Kyiv, Kharkiv, and Donetsk regions.