On 21 July 2017 the Ministry of Economic Development and Trade of Ukraine published lists of state-owned enterprises (SOEs) which the Government plans to privatise, offer for concession or liquidate. Out of a total of 3,444 SOEs, 893 SOEs are to be transferred into private ownership during 2017-2020.
The SOEs to be privatised include several power distribution companies (‘oblenergos’), chemical plants such as Sumykhimprom, engineering businesses such as Turboatom, and a number of large banks (e.g., Oschadbank, Privatbank and Ukreximbank). The Odesa Port Plant, which was to have been privatised in 2016, is again on the to-be-privatised list, and is scheduled for sale during the second half of 2017 – early 2018.
Roads, woodland and two international airports (including Ukraine’s main airport, Boryspil) are expected to be transferred into concessionary agreements.
Earlier this month, the Government approved a draft privatisation law, which is now being reviewed by the National Reforms Council. The text of the draft law is not yet available, but we understand that it will be a significant departure from the existing, 1990s-style privatisation law. In particular, the Government has said that the new law will allow foreign investors to have the privatisation documentation governed by English law.