OREANDA-NEWS. January 11, 2012. DTEK won the tender held by the State Property Fund of Ukraine for purchase of 40.061% stake in Donetskoblenergo. The company will pay UAH 467.6 m for the stake. Thus DTEK concentrated 71.34% of the enterprise shares.

 Following the results of the tender held on the principles of auction and bid price openness on January 11, 2011 a sale and purchase agreement was entered into by the State Property Fund of Ukraine and DTEK Holdings Ltd. The money for the shares will be transferred within a week after signing of the agreement.

 Donetskoblenergo is an electricity distribution company with its own network capacity enabling electricity supplies to Ukraine’s largest industrial region. It has 69,400 km of electricity lines and 373 transformer substations with a combined capacity of 8,458 MVA. The company includes Mironovskaya TPP with installed electric capacity of 275 MW.

  “The stake in Donetskoblenergo will allow us to restore the network facilities of Donetsk region, continue their upgrade and implement new technologies more systematically. DTEK’s TPPs will benefit from development of Donbass grid transmission potential. We are going to improve the quality of electricity supplies to retail and industrial consumers, among which there are our own companies, and offer our clients new products and services.  We have to invest more than UAH 1.5 bn in the company due to heavy wear and tear of its fixed assets. However, I am sure that our experience and financial capabilities will help to solve the company’s main problems and make it an industry leader,” Maxim Timchenko, DTEK’s CEO said.