Luhanskgas PJSC

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Ukrainian natural gas distribution company Luhanskgas was partially divested in September 2012. The winning bidder was Gaztek JSC, from Kyiv, Ukraine. By winning the bid, Gaztek expanded its share in Krymgaz from 0.0% with 26.0%. Other equity holders in the firm iuncluded the State Property Fund of Ukraine. Gaztek JSC was 96% held by four Cyprus-based companies. Its market includes 16 Regional Administrations, servicing the gas system in Luhansk city and Luhansk region. Profit in 2012 amounted to UAH 55.583 million. The company managed 7,961km of pipes, 4,337 yard gasification, 835 control points, 1,332 drying gas control points, 967 boiler rooms, 574 industrial enterprises, 3,527 public utility objects and 624,000 flats covering 32 cities, 32 settlements and 245 villages. Total population of Luhansk Oblast was ~2,500,000 people. Two final bidders participated in the tender, the second firm being Finlex-Invest (Kyiv). Under the tender, the winning bidder obligates itself to invest UAH 4 million ($0.5 million) in the firm. Total value of the winning bid was UAH 81.41 million ($10.0 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 Luhanskgas 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%), Krymgaz (23%), Ivano-Frankivskgaz (25%) and Kykolaivgaz (25%). Financial closure date was unavailable, reported here is month of tender winning. http://bpart.kiev.ua/eng/cat2004/?s=8&i=310 http://www.ukrainebusiness.com.ua/news/6928.html