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Odesa Portside Plant might cost $300mln

Odesa Portside Plant might cost $300mlnNew tender price will be established for sale tender of Odesa Portside Plant (OPP) that has been previously interrupted due to the lack of bids from investors,UNIAN.

The starting price of 99.6% of the shares of a large chemical enterprise "Odessa Portside Plant" at the re-auction for its sale in late October could be around $300mln, according to the press-service of the State Property Fund refering to the head of the department Igor Bilous.

Tender for sale of 99.6% shares of the OPP with a starting price of UAH 13.175bln (about $ 520mln) was derailed on July 18 due to the lack of bids from investors. One of the reasons for the failed tender, the fund called an inflated starting price of the company.

The press-office reported: "Preliminary we plan to conduct an auction in the end of October. Expert conclusions - the plant should be worth $500mln, including debt. Subtract the debt - it will be only $300mln."

The discussions on the new price have been underway.

"Of course, we want to sell the OPP as expensive as possible. Our task is to create conditions to advance rivalry during the auction and, thus to raise the price," Bilous added.
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