OREANDA-NEWS. September 14, 2009. A Kyiv district administrative court ruled on Friday to temporarily block the sale of stakes in three Oblenergos by the State Property Fund – Poltavaoblenergo (POON), Prykarpatoblenergo (PREN) and Sumyoblenergo (SOEN). The auctions for ~25% stakes in each Oblenergo have been postponed on a weekly basis since May as the SPF has been unable to field any bidders. The case against the privatization was initiated by Valentina Semenyuk-Samusenko, a former SPF head and presidential candidate.

Concorde Capital: We do not believe Semenyuk-Samusenko will succeed in blocking these privatization auctions; the successful sale of stakes in these companies has already been stalled: potential bidders seem to be waiting for the SPF to lower the starting price for Poltavaoblenergo, Prykarpatoblenergo and Sumyoblenergo – which it has consistently stated it was not prepared to do.

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.