DTEK Group to acquire the majority shareholding in Odesaoblenergo and Kyivoblenergo

DTEK Group to acquire the majority shareholding in Odesaoblenergo and Kyivoblenergo

DTEK04 January 2019

On January 3rd, 2019, DTEK Oil&Gas LLC (Ukraine) and NGR B.V. (the Netherlands), wholly-owned subsidiaries of DTEK B.V., signed an agreement to acquire 68.2949% of the JSC Odesaoblenergo (“Odesaoblenergo”) share capital and 93.9978% of the PJSC Kyivoblenergo (“Kyivoblenergo”) share capital.

Odesaoblenergo and Kyivoblenergo are electricity distribution system operators in the Odesa and Kyiv regions respectively and do not carry out any electricity supply activities. Both companies are a natural monopoly and fully regulated by the National Energy and Utilities Regulatory Commission (“NEURC”).

Acquisition is subject to receiving necessary permits from the state authorities, including anti-trust approval.

Reference

DTEK is a strategic holding company that develops business in the energy sector. DTEK’s companies employ 73 thousand people. Maxim Timchenko is the Chief Executive Officer of DTEK.
DTEK companies produce coal and natural gas, generate electric power at the fossil-fuel fired power plants and renewable energy power plants, supply thermal and electric power to end consumers, and provide energy services. The operating companies directly manage production companies in each of the business streams.
DTEK’s production indicators for 2017: the company has produced 27.7 mn tonnes of coal, 1.655 bcm of natural gas, generated (supplied) 37.1 bn kWh of electric power, of which 637.8 mn kWh have been provided by the renewable energy sources; and transmitted 43.2 bn kWh of electric power via the grid.
DTEK is a part of the financial and industrial group System Capital Management (SCM). The shareholder of the group is Rinat Akhmetov.
For more information, visit: https://dtek.com/en/
To learn about social partnership projects being implemented in the cities of DTEK activity, and to get a detailed report on the status of their implementation, please visit https://dtek.com/en/sustainable_development/

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DTEK
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