The Antimonopoly Committee of Ukraine has permitted Cyprus-based Financial Investment Group A-Zevs Limited to acquire a stake of over 25% in Cyprus-based Azorande Investments Limited, the press service of the committee reported on Wednesday.
In another decision, the committee permitted Financial Investment Group to gain indirect control over Azorande Investments.
Azorande Investments holds a 100% stake in the share capital of
Euro-Reconsrtuction LLC (Kyiv), the key asset of which is Darnytsia
combined heat and power plant.
As reported, in June 2012 it was announced that public joint-stock
company Ecostandard sold Darnytsia combined heat and power plant to
Euro-Reconstruction. The National Commission for Energy Regulation
(NCER) agreed on the sale of the property to Euro-Reconstruction and set
tariffs for the production of electricity and heat for the company.
Darnytsia combined heat and power plant supplies heat to the Darnytsia and Dniprovsky districts of Kyiv.
In 2011, Darnytsia combined heat and power plant generated 82.041
million kilowatt-hours of electricity and produced 1.385 million
gigacalories of heat.
