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Economy Ministry to merge 12 strategic state assets into Ukrholding

Economy Ministry to merge 12 strategic state assets into UkrholdingUkraine's Ministry of Economic Development and Trade proposes setting up a state-run holding company, which will incorporate 12 strategic Ukrainian enterprises, according to a resolution entitled "Some Issues of Establishing PJSC 'State Management Holding Company "Ukrholding,'" Ukrainian online newspaper Ekonomichna Pravda reported.

"The holding's charter capital shall be formed by including 100% stakes in NJSC Naftogaz of Ukraine, PJSC Ukrhydroenergo, NJSC Nadra Ukrainy, State Public Company UKRBUD Building Company, PrJSC Kyiv-Dniprovske MPPZT (railway transport firm), PJSC Ukrainian Bank for Reconstruction and Development, state-run PJSC Oschadbank, PJSC Rodovid Bank, PJSC State Export-Import Bank of Ukraine (Ukreximbank) in the holding's structure," according to a report.

It will also incorporate 75% shares of PJSC Turboatom, 50% shares of PJSC Hartron, and 93% of shares of PJSC Ukrgasbank.

It is said that the establishment of the holding company is designed to improve the management of major state-owned assets and enhance their efficiency by applying high standards of corporate governance.

"Establishing the [holding] company will help attract most highly qualified specialists to manage economic entities in the public sector and concentrate their expertise and analytical capabilities within a single management structure, which will improve the government's ability to analyze information and make decisions regarding the economic entities," the document reads.
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