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The Cabinet allowed to reduce the price of Odessa Portside Plant

The Cabinet allowed to reduce the price of Odessa Portside PlantSale tender of 99.6 % shares of the Odessa Portside Plant (OPP) with a starting price of UAH13.175bln was disrupted on July 18 due to the lack of investors bids. One of the reasons was overpriced starting price, UNIAN.

The Cabinet of Ministers of Ukraine has supported the changes in evaluation technique proposed by the State Property Fund of Ukraine, the implementation of which allows to reduce the starting price of 99.6 % of shares of Odessa Portside Plant for re-privatization.

The corresponding decision has been adopted today, August 31.

The first sale tender was disrupted due to the lack of buyers applications that some reasoned of the inflated starting price of the company.

The Prime Minister of Ukraine said: "The contest had been completed with no bids received. All the experts said that this is a high price ... I think we should allow the State Property Fund to put a starting price that will attract the greatest number of buyers. Then we will approve it."
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