President of
Ukraine Petro Poroshenko has signed a law on amendments to the privatization
process, which provides for, inter alia, the abolition of the clause regarding
an obligatory sale of 5%-10% of shares of state-owned strategic entities on
stock exchanges during their privatization, the presidential press service
reported.
"President
Petro Poroshenko has signed the law "On amendments to some laws of Ukraine
on improvement of the privatization process" adopted by the Verkhovna Rada
on February 16, 2016," a statement reads.
The law also
provides for attracting highly qualified and impartial advisers to the
privatization process. It also bans individuals and companies from states
recognized as aggressors by parliament from bidding for assets offered for
privatization.
In addition,
the law allows foreign companies with a state stake in the authorized capital
of more than 25% to take part in the privatization process.
The State
Property Fund of Ukraine (SPF) will be responsible for the implementation of
the law, the report notes.
As UNIAN
reported earlier, on February 16, the Ukrainian parliament adopted a draft law
to enable a large-scale privatization.
In an
interview with UNIAN, SPF Chief Ihor Bilous stated that the adopted law would
give start to privatization in Ukraine.
Odesa Portside
Chemical Plant (OPP) is the first and major asset on the privatization list. A
99.6% state stake in the OPP is planned to be sold during the auction scheduled
for June 30. The Fund also plans to put up for sale state shares in heating and
power plants, as well as Centrenergo.
The then
Minister of Economic Development and Trade Aivaras Abromavicius also repeatedly
called on the Ukrainian parliament to support the bill, which, according to
him, would contribute to a transparent privatization.
Related post: Privatisation Ukraine
No comments:
Post a Comment