Ukraine DTEK Buys 45% Stake in Electricity Producer Krymenergo

DTEK, Ukraine’s largest private coal and power producer, won a bid today to buy a 45 percent stake in power producer and distributor PAT Krymenergo.

Ukraine’s state property fund sold the stake in Crimea based Krymenergo to DTEK for 256 million hryvnia ($31 million), according to a statement on the fund’s website today. The starting price was 246 million hryvnia, according to the state property fund. The winner outbid TOV Luhanske Energetychne obiednannya.

DTEK is owned by the Ukraine’s richest man, Rinat Akhmetov, and is part of his SCM Holding. Kiev-based DTEK, which also includes coal mines and coking plants, bought half of energy distributor PAT Dniprooblenergo last month and electricity producer PAT Dniproenergo (DNEN) in March.

The company’s acquisitions in energy sector also included 40 percent of power distributor PAT Donetskoblenergo and 45 percent of electricity producer PAT Zakhidenergo (ZAEN) in January, and 25 percent of PAT Kyivenergo, a state-owned energy generating and distribution company, in December.

-- Editor: Tim Farrand

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

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net