You're reading: Swiss UBS to be advisor in privatization of Odesa Port-Side Plant – State Property Fund head

The State Property Fund of Ukraine has selected Swiss bank UBS at a tender to select an advisor for the privatization of public joint-stock company Odesa Port-Side Plant, fund head Ihor Bilous has said.

“Today we announce the selected investment bank for Odesa Port-Side Plant. This will be UBS, a leading investment bank in the world,” he said in the parliament on Oct. 9.

Bilous said that all advisors involved in the privatization of large facilities of groups B and G will be selected at transparent tenders from among investment banks.

As reported, the Ukrainian government has said on several occasions that it plans to resume large privatization from the sale of 99.5 percent of shares in Odesa Port-Side Plant. Bilous said that the starting price is at least $500 million. The company’s director assessed the plant at $600-620 million, while Ukrainian Prime Minister Arseniy Yatseniuk increased the assessment to $1 billion.

According to Interfax-Ukraine’s information, 13 candidates informed the fund on their interest in the purchase of the plant- large European and U.S. companies and leading international investment intermediaries.