Ivano-Frankivskgaz

active

Prospective

Ukrainian natural gas distribution company Ivano-Frankivskgaz was partially divested in September 2012. The winning bidder was Gaztek JSC, from Kyiv, Ukraine. By winning the bid, Gaztek expanded its share in Ivano-Frankivskgaz with 25.0% to 35.19%. Other equity holders include Naftohaz Ukrainy (25% + 1 share), Ahropromkomplekt Company (15,28%), Favorit Trade Network Ltd (10%) and Roliuks company (10.01%). Gaztek JSC was 96% held by four Cyprus-based companies: Krezer Holdings Limited, Nesiba Venchers Limited, Pasler Enterprise Limited, Polara Venchers Limited. In 2007, LC "Continium Trust Company" was reported to hold 40.75% of the equity with the state holding another 50% + 1 share. Two final bidders participated in the tender, the second firm being Finlex-Invest (Kyiv). Total value of the winning bid was UAH 33.35 million ($4.1 million). The minimum price was UAH32.6 million ($4 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 Ivano-Frankivskgaz 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. http://un.ua/eng/article/408257.html The State Property Fund of Ukraine has sold 25% of the shares of the Ivano-Frankivskhaz gas distribution company to the Kyiv-based Gaztek private joint stock company. The auction was on Thursday. The starting offer of Gaztek was UAH 32.65 million with the starting price being UAH 32.6 million. The offer of the other participant in the tender - the Kyiv-based Finleks-Invest investment company - equaled the starting price. Gaztek offered UAH 33.35 million and Finleks-Invest did not offer a high price. As Ukrainian News earlier reported, the State Property Fund on August 8 put up for sale 25% of the shares of the Ivano-Frankivskhaz gas distribution company with a starting price of UAH 32.6 million. The Ivano-Frankivskhaz gas distribution company has reported a net profit of UAH 24.873 million for 2011, having increased net revenues by 44.1% or UAH 263.311 million, compared to 2010 to UAH 860.344 million. 25%+1 share in the company belongs to the Naftohaz Ukrainy national joint-stoc

Energy

World Bank Group

Project

Natural Gas, Power Transmission, Government, Power Generation (CCGT)