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Ukraine Auctions Off 50% of Largest Energy Supplier

50% of the shares of the largest energy supplier of Ukraine – Dneproblenergo – was set for an auction. The information about the company sale is contained in the press-release of the State Property Fund of the country. The stating price of the package is 75 million American dollars. The auction is scheduled for April 17 this year.

The state-owned enterprises as well as the off-shore companies and the companies registered in the countries which do not support the international programs for stopping money laundering are forbidden to take part in the bidding.

The new owner of the company will be obliged to pay the debts of the enterprise, to reduce technological losses of electrical energy, to introduce modern technology.

Dneproblenergo deals with servicing the industry and households of the Dnepropetrovsk region. In 2011 the company sold about 23 billion KWh of electrical energy. The revenue of electricity sales reached 1.7 billion dollars. Over the last three years the enterprise operates at a profit. The company employs 7.6 thousand people.

Since the end of 2011 Ukraine sold the state-owned stake of the 6 energy-supplying and energy-generating enterprises for the amount of over 400 million American dollars.

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