Prime Minister Groysman has told parliament that the government will not sell its controlling stake in power turbine producer Turboatom
Wednesday, June 13, 2018

Prime Minister Groysman has told parliament that the government will not sell its controlling stake in power turbine producer Turboatom

Prime Minister Groysman has told parliament that the government will not sell its controlling stake in power turbine producer Turboatom, where it controls 75.2% of shares, Interfax-Ukraine reports. Instead, Groysman proposes that a 51% stake remain in state hands, and a 20%-25% stake should be sold to an “international partner with a global name and an excellent reputation.” The privatization process should “maximally take into account the opinion of the company’s management.” Concorde Capital’s Alexander Paraschiy writes: “This is a disappointing statement indicating that the Ukrainian government is not ready to sell one of its most promising assets. In our view, Turboatom may lose its competitive edge and lose a significant portion of its customer base in a couple of years if it remains in state hands.”

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