OREANDA-NEWS. On 13 August 2009 was announced, that the Kyiv City Administration and Kyivenergo (KIEN) signed documents wherein the city recognized that it owed UAH 1.239 bln to the utility company to cover the difference between existing heating tariffs and the company's expenses for heating generation from 2000 to 1H09.

Concorde Capital: negotiations on how much the city of Kyiv owes Kyivenergo usually become active in autumn each year. While we doubt that these new documents have any legal ramifications for Kyiv, they could ease the city's process for recompensating Kyivenergo for heating losses this year. Just the same, we do not think this news will have an impact on the stock.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.