OREANDA-NEWS. July 12, 2010. The 8.76% stake in Poltavaoblenergo, a regional electricity distribution company, was acquired by Pryvat Group, the State Property Fund of Ukraine (SPF) reported. The Group paid UAH 58.6mn for that stake.

Millennium Capital believes this news is negative for Poltavaoblenergo. The Company’s MCap following the transaction (UAH 669.7mn) is twice as low as that originally planned by SPF, although it is 21% higher than the current level (UAH 552.4mn). The low sale price at the auction became possible once the two major private owners of POON (Pryvat Group and the Surkis’s family) settled their differences and agreed to delineate and keep to their areas of responsibilities going forward.