Applications for participation in competition on privatization 96,567% of shares of PJSC Odesa port plant from potential investors has not been received, although of interest to the enterprise showed about 10 potential buyers. About it reported in a press release of the state property Fund of Ukraine (SPF).
“Preparation and negotiations with investors are carried out in accordance with international standards with the involvement of reputable advisors: UBS investment Bank, law firms, EY and Baker & McKenzie. Unfortunately, applications for participation in the competition from potential investors has not been received, although of interest to the enterprise showed about 10 potential buyers. Four potential buyers, most of whom are foreigners, sent letters of intent to acquire stake in JSC IPF have signed confidentiality agreements with the state property Fund, preparing the necessary documents, but the applications for participation in the contest is not filed,” – said in the message.
The Chairman of the state property Fund of Ukraine Igor Bilous said: “I Hope we get an explanation from potential buyers about the reasons for their refusal to participate in the contest. However, today we can say that the key factors in the lack of applications is a negative pricing environment on the world markets of mineral fertilizers and the lack of positive forecasts of growth, the high price of natural gas, unprofitable activity of the enterprise, the continuation of increasing debt, including in front of OSTCHEM Holding (GroupDF)”.
Recall, on the eve ЛІГА.net with reference to the sources reported that applications for participation in the tender for the purchase of shares of the SCR is not received.
6 December it became known that Aleksandr Yaroslavskyy’s DCH group refused to participate in the competition after receiving more information about financial-economic activity of the SCR.
The representative of another potential participant – Deputy head of legal Department at DK Ukrnefteburenie Taras Matenco – said the Agency UNIAN that despite repeated promises of the state property Fund to attach to each customers individual specialist who will accompany him and help in the preparation of documents, the Foundation of such employee Ukrnefteburenie officially not provided.
“Some companies, even if they wanted to participate in the competition, now might just give up due to the onerous conditions of the contract of purchase and sale of its one-sidedness in the obligations to a potential buyer, and – subject to the availability of huge debts owed to the OPP,” said Metinko.
The competition for the sale of the HMO in July of this year was also not filed a single application. Questions from investors were: the company’s debt to Group DF more than $250 million; courts with Nortima company that won the privatization contest 2009, and the high price of the background of the mentioned problems of the plant and the General political and economic risks of the country.
On 31 October, the state property Fund announced the competition with openness bid on the auction for the sale of the equity stake of JSC Odessa port plant. The initial price of the shares – of 5.16 billion (now $197,64 million – ed.). The bidding step is determined in UAH 150 million. The contest was scheduled to be held on 14 December 2016.
The head of the state property Fund of Ukraine Igor Bilous said that the dialogue concerning the privatization of Odessa portside plant is 6-7 with investors.
Earlier it was reported that the purchase of AES is interested in four companies: PJSC Ukrnefteburenie affiliated with the people’s Deputy Vitaly Homutynnik and businessman Igor Kolomoisky; Glenshee Holdings Limited (Cyprus), a member of the group Alexander Yaroslavsky; IBE Trade Corp. (USA) billionaire Ukrainian origin Alex Rovt and Amjad Investment (UAE) – investment company headquartered in Dubai.
Help. Odessa port plant (Yuzhny, Odessa region) – one of the largest enterprises of chemical industry of Ukraine. Specializiruetsya in the production of ammonia, urea, liquid nitrogen, carbon dioxide, liquid oxygen, sodium sulfate. The plant is a monopolist in the market of specialized services in reception, cooling and transshipment of ammonia.