President of Ukraine Volodymyr Zelensky announced that the State shares of PJSC Odesa Portside Plant and PJSC Centrenergo are ready for sale at privatisation tenders.
In early June, the Supreme Court satisfied the claim of Odesa Portside Plant and the State Property Fund of Ukraine and denied Ostchem Holding Limited of Dmytro Firtash in the execution of the decision of the Stockholm Arbitration Court to recover over $ 300 million from Odesa Portside Plant for gas supplies.
According to Head of the State Property Fund Dmitry Sennychenko, this is a very important decision for the transparent privatisation of the plant, since now any potential buyer can be sure that creditors will not be able to challenge his ownership of the plant.
We have cleared the company of many influential groups and Centrenergo is open [for privatisation] … So is Odesa Portside Plant. I believe that it is ready for today.
Volodymyr Zelensky, speaking at the all-Ukrainian forum "Ukraine 3.0 Economy"
The President of Ukraine underlined that when selling large enterprises, it is not so much a one-time receipt of the maximum possible funds that is important, but the obligation of potential investors to invest in the modernisation of companies with the subsequent stable receipt of taxes from their economic activities.
It is important not how much the State will receive at once, but how much later – from taxes every month, every year. Business is not about buy and sell, this is not about mediation, business is a constant investment of money in technologies, in ideas.
Volodymyr Zelensky
