Chernivtsigaz OJSC

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Ukrainian natural gas distribution company Chernivtsigaz was partially divested in September 2012. The winning bidder was Gaztek JSC, from Kyiv, Ukraine. By winning the bid, Gaztek expanded its share in Chernivtsigaz with 20.393%. Gaztek JSC was 96% held by four Cyprus-based companies. Two final bidders participated in the tender, the second firm being Finlex-Invest (Kyiv). The auction made 18 steps, increasing the price by nearly 20%. Total value of the winning bid was UAH 8.0 million ($1.0 million). The minimum price was UAH 6.7 million ($0.82 million). The Ukrainian bank representing Gaztek was Nadra Bank, Nadra Bank was 89.9% owned by Centragas Holding AG, from Austria. Gaztek raised UAH 250 million to purchase shares in Chernivtsigaz as well as 11 other natural gas utilities: Volyngazm (23.4%), Sevastopolgaz (25%), Zaporizhgaz (25%), Dnipropetrovskgaz (26%), Chernivtsigaz (20.4%), Zhytomyrgaz (15.9%), Syrnygaz (25.8%), Gaztek (23%), Ivano-Frankivskgaz (25%) and Kykolaivgaz (25%). Financial closure date was unavailable, reported here is month of tender winning. Sale price of shares of Chernivtsigaz PJSC grew at the tender by 20% 18.09.2012 | 12:17 PRESS SERVICE OF THE STATE PROPERTY FUND At the tender for the sale of 20.393% of the shares of PJSC "Chernivtsigaz" on 18.09.2012 year selling price package UAH was 8 mln. This is UAH 1.3 mln or nearly 20% up than the initial cost of the package. It was UAH 6.7 mln. During the auction was made 18 steps. At the tender, both companies that have applied: Investment Company" FINLEKS-INVEST "and CJSC" Gaztek". The last is the winner. The State Property Fund announced a tender for the sale of shares on 15.08.2012 year. The contest was broadcast on-line on the website the State Property Fund. http://www.kmu.gov.ua/control/en/publish/article?art_id=245595417&cat_id=244314975