GEF puts into auction 157.098 m of enterprise shares (73.4 per cent of stock), of 0.05 hryvna/share nominal each, with start price of 25.52 m hryvnas, Ukrainskiye Novosti agency informs.

A prospective owner will have to meet the obligation to preserve business and to show certain profits in the first five years. Furthermore, the owner will have to provide for stable monthly deliveries of no less than 70 thousand t of ordinary coking coal to the enterprise and for stable sales in addition to sinking of all its debts.

Earlier, the Fund had repeatedly announced the auction but no bidders showed up.

The enterprise was established as a joint-stock company. In Autumn 2003, the company and its principal creditor, Donetskstal’—Metallurgical Plant established Makiyevkoks company and transferred its key assets into it. Makiyevkoks owns 25 per cent of the stock of Makiyevskiy chemical-recovery plant.

Theme:  Property/Coal/Ukraine