Deals
Ukraine Cancels Gas Pipeline Takeover After Lender Criticism
- Transfer to government control risks EBRD, World Bank loans
- UkrTransGaz is currently owned by state-run Naftogaz Ukrainy
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Ukraine canceled a government takeover of state gas-transportation company UkrTransGaz after an international creditor said the step raised management issues and the nation’s biggest energy company warned of risks to hundreds of millions of dollars of loans.
The decision to cancel was taken Monday after a meeting between Prime Minister Volodymyr Hroisman, U.S. Ambassador Marie Yovanovitch and representatives of the European Bank of Reconstruction and Development, the World Bank, state gas company Naftogaz Ukrainy’s and UkrTransGaz officials, the government said in a statement.