Initially, DTEK proposed Hr 449.6 million for the stake and its rival – Luhansk Energy Association controlled by businessman Konstantin Grigorishin – bid Hr 449.5 million.
At the tender four bid increments were made. The price grew to Hr 467.6 million. Luhansk Energy Association did not offer the larger sum for the shares in the regional electricity supply company, and the State Property Fund of Ukraine (SPF) announced that DTEK had won the tender.
The tender to sell shares in Donetskoblenergo was announced on Nov. 16, 2011. The starting price for the 26,246,875 shares in Donetskoblenergo is Hr 449.5 million. The bid increment is Hr 4.5 million.