Dniproenergo

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Dniproenergo OSJC was the largest Ukraininan thermal power generation company, operating three thermal power plants - Pridneprovskaya, Krivorozhskaya, Zaporozhskaya with a total installed capacity of 8185 MW. It produced one fifth of Ukrainian thermal power generation. By 2007, Don-Bass Fuel Energy Company (DTEK) acquired 13.31% of the shares via a series of transactions on the over the counter market over a number of years. In October 2007, DTEK acquired an additional 34.24% stake via debt-to-equity transaction. DTEK made a US$41.1 million(UAH 1,052 million) capital contribution in exchange for the 34.24% stake and committed to fund Dniproenergo investment program amounting to US$39.4 million (UAH 1,010 million) for 2008 to 2012. The share issue made in October, 2007 was registered on July 11th, 2008, taking DTEK's interest in the company to 47.55% The Energy Company of Ukraine held the remaining shares. In January 2012, DTEK won a further divestiture tender and obtained additional 25% in the company, increasing its total share to 72.6%. DTEK offered 1.174 billion ($146 million) for the equity. DTEK was the only bidder. All of the produced electricity was supplied to the wholesale electricity market of Ukraine. Cannot trace the date of the first share purchase. Platts Energy in East Europe, DTEK winds control of Dniproenergo, 13 January 2012.