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Ukraine Sells Energy Distributor Donetskoblenergo to DTEK

DTEK, Ukraine’s largest private coal and power producer, won a bid for power distributor PAT Donetskoblenergo (DOON)’s 40 percent stake, its third purchase of power companies in one week.

Ukraine’s state property fund sold the stake in Donetskoblenergo to DTEK for 467.6 million hryvnia ($58 million), according to a statement on the fund’s website today. DTEK, owned by the country’s richest man, Rinat Akhmetov,was the only bidder for 25 percent of power producer PAT Dniproenergo (DNEN) in another auction today, the property fund said.

The fund will complete the sale of Dniproenergo to DTEK after a so-called independent estimate of the price for Dniproenergo, the property fund said. DTEK offered 1.174 billion hryvnia for the stake. Donetsk-based DTEK already holds 47.55 percent in Dniproenergo.

DTEK also paid 1.931 billion hryvnia to the country’s state budget today for 45.1 percent in another power producer, PAT Zakhidenergo (ZAEN), the company said today by e-mail.

The state property fund confirmed the sale of the Zakhidenergo stake to DTEK yesterday after an independent estimation of the price. DTEK was the only bidder for Zakhidenergo at an auction in November.

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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