You're reading: DTEK to buy 25% stake in Dniproenergo for Hr 1.18 billion

Ukraine's largest vertically integrated private energy holding, DTEK is to acquire a state-owned 25% stake in energy generating company Dniproenergo for Hr 1,179,700,000.

It was announced at a meeting of the tender commission on the sale of the stake on Monday that Kharkiv-based USK-Consulting Ltd. had valued a 25% stake in Dniproenergo at Hr 1,179,700,000 during an additional assessment of the company.

DTEK, which initially offered Hr 1,174,100,000 (Hr 100,000 more than the starting price) for the stake, agreed to pay Hr 1,179,700,000 for it.

Dniproenergo is one of the largest energy generating companies in Ukraine. It runs the Prydniprovska, Kryvy Rih, and Zaporizhia thermal power plants, which have a total capacity of 8.185 GW (25 energy generators).

DTEK already owns a 47.55% stake in Dniproenergo, and the Energy Company of Ukraine holds a 25% plus one share stake.

DTEK late in 2011 won tenders for the sale of a 25% stake in Kyivenergo and a 45.103% stake in Zakhidenergo, where it had also been the second largest stockholder after the state.

DTEK, formed in 2005 to manage the energy assets of businessman Rinat Akhmetov’s System Capital Management group, includes a vertically integrated group of companies, from the mining and enrichment of coal to the generation and distribution of electricity.