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SPFU has announced selection competition of advisors to privatize of first six enterprises from the list of large privatization objects

On June 25, 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”, PrJSC “President-Hotel”, PJSC “United Mining and Chemical Company”, PrJSC “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 (the table below):

 

Object’s Name

Deadline for submission of documentation

Date of competition

PJSC “Odesa Port Plant”, 99,5667%

20.07.2018

1 step: 26.07.2018

2 step: 30.07.2018

PrJSC “Indar”, 70,7016%

20.07.2018

1 step: 26.07.2018

2 step: 30.06.2018

PrJSC “President-Hotel”,  100%

20.07.2017

1 step: 26.07.2018

2 step: 30.07.2018

PJSC“United Mining and Chemical Company”, 100%

23.07.2018

1 step: 27.07.2018

2 step: 31.07.2018

State Enterprise “Coal Company “Krasnolymanska”

23.07.2018

1 step: 27.07.2018

2 step: 31.07.2018

State Enterprise “Plant “Elektrovazhmash”

23.07.2018

1 step: 27.07.2018

2 step: 31.07.2018

 

The maximum term for preparation by the advisor of the stock of shares of PJSC "Odessa Port Plant" for sale is 6 (six) months from the date of entry of the agreement on provision of advisor's services into force, for other objects – 4 (four) months. All announcements have published in the newspaper “Vidomosti Pryvatyzatsii” dated June 25, 2018.

The main purpose of Advisors for privatization is acceleration of economic growth, attraction of foreign and domestic investments, reduction of the share of state or communal property within the structure of the Ukrainian economy by selling privatization objects to the effective owner.

List of objectives of advisor on sale of the state objects is as follows:

-         collection of information and conduction of analysis of economic, technical, and financial indicators of the company's activity;

-         bringing the main indicators of the company's accounting records in line with accounting standards;

-         ensuring the audit;

-         preparation of a financial model and determination of investment attractiveness of the company, possible ways of its improvement, ways of restructuring of accounts payable, recommendations on the establishment of basic prices and tariffs for products and services, marketing policy, and other measures;

-         determination of the starting price and preparation of the information package concerning the privatization object;

-         preparation of documentation on the company in accordance with the requirements of legislation on protection of economic competition and on environmental audit;

-         development of complex measures for anti-crisis management of object debts;

-         conduction of Due Diligence;

-         conducting a SWOT analysis of the object, including assessment of the company's competitive position in Ukraine and in international markets;

-         carrying out activities aimed at finding potential investors;

-         preparation of presentation materials for potential investors/Data room organization (in Ukrainian and English);

-         support of the auction.

Competitions for selection of advisors are carried out pursuant to the Order of the Cabinet of Ministers of Ukraine No.358-р dated 10.05.2018, which approves the list of objects of large privatization of the state-owned property to be privatized in 2018. The Procedure for conducting the competition for selection of an advisor is established by the Law of Ukraine "On Privatization of State and Communal Property", the Procedure for Engaging Advisors in the Process of Privatization of State-Owned Objects, approved by the Resolution of the Cabinet of Ministers of Ukraine No.878 dated 30.11.2016 (as amended), the Regulation on the competition commission for selection advisors in the process of privatization of state-owned objects, approved by the Order of the State Property Fund of Ukraine No.458 dated 29.03.2018, registered with the Ministry of Justice of Ukraine on 18 April 2018 under No.471/31923 (hereinafter the "Regulations").

In accordance with paragraph 3 of the Procedure and Article 19 of the Law, as well as part two of Article 8 of the Law, there is a list of persons who are not allowed to be advisors.

Additionally, persons who are subject to sanctions in accordance with the requirements of the Law of Ukraine No.133/2017 dated 15.05.2017, which brought into force the Decision of the National Security and Defense Council of Ukraine dated 28.04.2017 "On Application of Personal Special Economic and Other Restrictive Measures (Sanctions)" and the Law of Ukraine "On Sanctions", should not be allowed to competition.