OREANDA-NEWS. On 21 August 2009 was announced, that the State Property Fund, in its official newspaper on Wednesday, added the privatization of a 46% stake in Cherkasyoblenergo (CHON) to its 2009 schedule – the first in a new set of Oblenergo stakes to make the list. Amendments to the timeline indicate that the SPF will announce an auction in November, which would imply an auction date in December 2009-January 2010.

Concorde Capital: We believe the SPF will amend the schedule once again to expand the size of the Cherkasyoblenergo stake it plans to sell. Earlier this year, the SPF said it would sell a 71% stake in the company; an additional 25%+1 stake is currently held by UkrEsco, a state company, and should be transferred to the SPF shortly. For more, see our note on Oblenergo privatization prospects of August 19, 2009.

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.