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group accounted for 19.8% of total revenues of the state budget over the first seven months of 2018, the company's press service said. Last year, the group's contribution to the state budget in taxes and dividends totalled UAH107.3bn. Naftogaz of Ukraine is the largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 90% of oil and gas production in Ukraine.
Ukraine's State Property Fund (SPF) has decided to cancel its previous decision to privatise the nation's State Food and Grain Corporation, greenlighted in December. In May, the government excluded three state-owned companies, including the State Food and Grain Corporation, from a list of large enterprises slated for privatisation in 2018. However, Kyiv-based experts believe the move is unlikely to have any significant effect on wider privatisation plans because Ukraine will be able to sell its large assets in 2018-2019 due to upcoming presidential and parliamentary elections. The SPF's resolution was published in the Vidomosti Pryvatyzatsii bulletin on August 20, Interfax news agency reported the same day. According to the agency, First Deputy Minister of Agrarian Policy and Food Maksym Martynyuk said earlier that the corporation needed to be privatised, but first it was necessary to restructure a $1.5bn loan issued by the Export-Import Bank of China. According to Martynyuk, the loan agreement provides for the approval of creditors for any change in the corporation's ownership.
Ukraine has hired advisors to help sell the first six companies on the privatisation list this autumn , the State Property Fund reported on August 3.
Ukraine’s privatisation programme has been gathering some momentum but it has struggled to sell the star companies that could bring in billions of dollars.
The advisors have been hired ahead of the latest push to get the programme moving again. T he head of Ukraine's State Property Fund (SPF) Vitaliy Trubarov plans to sell 22 large companies , according to a post published on his Facebook page on June 11.
Earlier the Cabinet produced a list of 23 companies, but the Zaporizhia Titanium Plant has been excluded for the meantime and will be sold sold by a simplified procedure (according to the old law on privatisation). The amended list includes five power supply companies, Centrenergo, Odesa Port Plant (OPP), Turboatom, Zaporizhia Titanium and Magnesium Combine, United Mining-Chemical Company and Sumykhimprom amongst other names.
The nominating commission selected advisors last week for the privatization of the first six assets that should be sold under the privatization law adopted in January.
A company related to Concorde Capital was selected as an adviser for Kyiv-based President Hotel, pharmaceutical company Indar and coal mine Krasnolymanska.
A company related to BDO was selected as adviser to sell titanium ore producer United Mining-Chemical Company, KPGM was selected as adviser for power generator manufacturer Elektrovazhmash and Pericles Global Advisory was selected for the fertilizer producer Odesa Portside Plant (Odessa Port Plant (OPP). The sale of all the mentioned companies are supposed to be completed by the end of 2018.
37 UKRAINE Country Report September 2018 www.intellinews.com