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poultry processing plants in Netherlands and Slovakia and exports to 60 countries.
A UK-registered unit of the Saudi Agricultural and Livestock Investment Company, SALIC UK, which secured a share purchase agreement with Ukraine's battered farming holding Mriya that defaulted on $1.1bn debt in 2014, will purchase the farming enterprise's new bonds at a net price of 53-62% of par (after a deduction of $10mn-$15mn in transaction costs) by late October. As part of Mriya's $1.1bn debt restructuring in August, the holders of old Mriya Eurobonds received new bonds of a par value of $11.8 per $100 of old bonds, as well as some other securities (shares and recovery certificates). On August 6, some of the new securities were sold at an auction, implying a 4% cash recovery rate of the old bonds. Alexander Paraschiy at Kyiv-based brokerage Concorde Capital believes that if the deal is completed and SALIC buys out all the creditors' new securities at the declared price, the recovery rate of old Mriya Eurobonds will reach 6.3%-7.3%, which is a substantial increase compared to the rate implied by last week’s auction.
9.2.7 TMT corporate news
Ukraine’s post office, Ukrposhta , is moving into e-commerce and teamed up with Rozetka, Ukraine’s largest online store, with 2mn items in its catalogue. Orders can be made online from post offices in villages and small towns, home to one third of the nation’s population. Delivery will be UAH30 hryvnia ($1) reports Maxim Rabinovich, Ukrposta’s director for Business Development. Earlier, Ukrposhta began working with other online stores: F.ua, LeBoutique, Lamoda, Parfums.ua, Yakaboo, and Makeup. Ukrposhta has also signed a lease agreement with Rozetka to rent 1,500 square meters of its iconic central post office in Kyiv to its partner. Rozetka won the five-year lease by offering to pay $35,000 a month for the first floor of the Stalin-era building, which stands at the corner of the Maidan and Khreschatyk, Kyiv’s prestigious shopping avenue.
9.2.9 Utilities corporate news
DTEK Energy posted UAH5.404bn in net profit in January-June 2018, its net profit in the second quarter of 2018 alone was UAH1.06bn, according to a report on the company's website. The company told Interfax-Ukraine that the report for the first half of 2018 does not take into account the lost revenue caused by the loss of enterprises in the uncontrolled territory in Donbas. DTEK Energy's revenue in the first half of the year was UAH83.181bn, UAH36.8bn in the second quarter. Gross profit in January-June-2018 amounted to UAH9.484bn, including UAH4.312bn in the second quarter. As reported, DTEK Energy invested UAH3.3bn in modernization and development of its enterprises in January-June 2018. DTEK Energy is an operating company in the field of coal mining, generation and distribution of electricity in the structure of DTEK Holding.
Windkraft Ukraine, a company based in the country's Kherson region is going to bring the installed capacity of its wind farms in this region to 170 MW by the end of the year, the company's director Carl Sturen said on September 20. The company is also mulling the next project to boost them by another 150-170 MW, Sturen told Interfax news agency, adding that the company used its own funds and bank loans in 2018. The director also said
57 UKRAINE Country Report October 2018 www.intellinews.com