The Minister of the Cabinet of Ministers of Ukraine, Head of the interagency working group on privatization Olexandr Saienko held a meeting with representatives of leading investment and audit companies planned to be engaged as advisors for the sale of large-scale privatization enterprises.

The meeting was attended by Acting Minister of Finance of Ukraine Oksana Markarova, First Deputy Minister of Economic Development and Trade of Ukraine Maksym Nefyodov, Acting Chairman of the State Property Fund of Ukraine Vitalii Тrubarov and representatives of Morgan Stanley, PwC, Deloitte, KPMG, E&Y, ICU, Concorde Capital, Dragon Capital.

"We expect advisors to present us with an efficient  and professional view towards privatization, a vision of solving debt problems of enterprises, debts restructuring which will allow us to approve far-reaching decisions and  to shape optimal conditions for the sale of objects", Oleksandr Saienko stressed.

He emphasized that the process of privatization should be designed to attract strategic investors who will bring new technologies, offer their vision of expanding production, create additional jobs. In order to achieve this the process of the privatization should be transparent and effective.

"We gave green light to selection competition of advisors for the privatization of the first six enterprises, and we will shortly start the second wave of competitions for  the selection of advisors for all objects encapsulated in the list of objects subject to privatization that was approved by the Cabinet of Ministers. I am sure  the best professionals will help us in this process and we will conduct privatization in line with the best world standards with the maximum economic effect ", the Minister of the Cabinet of Ministers of Ukraine underscored.

Background

In May 2018, the Cabinet of Ministers of Ukraine approved a list of large-scale privatization enterprises for this year. On June 24, 2018 the State Property Fund announced selection competitions of advisors to conduct the preparation for privatization and sale the stocks of shares of PJSC “Odesa Port Plant”, PJSC “President-Hotel”, PJSC “United Mining and Chemical Company”, PJSC “Indar” and following state enterprises: “Coal Company “Krasnolymanska” and “Plant “Elektrovazhmash”.

Competitions will be held in premises of the State Property Fund in two steps for each object from 26 till 31 July.