The state property Fund of Ukraine (SPFU) intends to hold an auction for the sale of 99.6% of shares of Odessa portside plant (OPP) at the end of October-early November of this year. This was announced at a briefing the head of the Fund Igor Bilous, UNIAN reports.
“We plan to finalize the privatization 10-15 September and in late October – early November we plan to hold a competition”, – said Bilous.
He stressed that the state property Fund is considering the possibility of lowering the starting price of the plant to half price, which were specified in conditions on 26 July tender for the sale of the company. We will note that earlier the starting price of the stake in the company was $ 13,175 billion.
We will remind, in July the tender for the sale of Odessa portside plant did not take place: no company has applied for participation.
At the moment, SPF has already spent nearly $1 million on technical preparations for the privatization of the plant.
The Cabinet of Ministers by its decree No. 386 dated may 18, 2016 approved the basic terms of privatization and obligations of the buyer of the Odessa port plant, as well as the starting price of the company’s common stock 13,175 billion – $0,52 billion.
Potential buyers of state shares of the plant was considered by the Norwegian company Yara, the American WE Trade, Koch Fertilizers, CF Industries and the Polish Ciech.
Also part of the stock of the HMO is willing to purchase the European Bank for reconstruction and development (EBRD), but only when it won the privatization tender of the company will meet the Bank’s requirements and would be interested in this. Finally decide on the purchase of shares of a financial institution may have until the end of 2016.
In 2009 a competition was held for the privatization of the OPP. The winner was the company Nortima, offered for the enterprise of UAH 5 bn. But the Commission refused to approve the results of the competition.
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After that, Nortima was sent to the Economic court of Kiev the claim with the requirement from the state property Fund to conclude with it the contract of purchase-sale of 99.6% of the shares of IPF based on the results of the competition. The company considers the attempts of other possible candidates to participate in the repeated tender, as an encroachment on her property.
The court of first instance rejected Nortel, but the company intends to sue the SPF in higher courts.
Odessa port plant (Yuzhny, Odessa region) manufactures chemical products and is also engaged in handling ammonia by sea. The plant is the monopolist in the nation-wide market of specialized services in reception, cooling and transshipment of ammonia.