Volyngaz OJSC

active

Ukrainian natural gas distribution company Volyngaz was partially divested in September 2012. The winning bidder was Gaztek JSC, from Kyiv, Ukraine. By winning the bid, Gaztek expanded its share in Volyngaz from 0.0% to 23.4%. The sold equity portion originated form the State Property Fund (SPF). Two final bidders participated in the tender, the second firm being Finlex-Invest (Kyiv). Finlex-Invest bid UAH 24.3 million, the mininum bid ($3.0 million). Total value of the winning bid was UAH 25.05 million ($3.1 million), the minimum bid was UAH 24.3 million ($3.0 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 Volyngazm as well as 11 other natural gas utilities: Volyngaz (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://business.highbeam.com/407705/article-1G1-302887725/gaztek-wins-tender-234-stake-volyngaz-paying-31-mln