EPIC: Agreement On Purchase Of 92.8% Of Ukrtelecom For UAH 10.6 Billion May Be Signed In March

The EPIC financial and investment company (Austria), the parent company of the Kyiv-based ESU company that submitted the only bid for 92.79% of the shares in the Ukrtelecom telecommunication company, has said that an agreement on purchase of 92.79% the shares in Ukrtelecom for UAH 10.575 billion may be signed in March this year.

Peter Goldscheider, a managing partner at EPIC, announced this to Ukrainian News.

According to him, the deal may be completed in May after the signing of an agreement.

“Signing in March and completion of the deal in May if nothing unforeseeable happens,” Goldscheider said.

According to him, ESU has already received an offer from the State Property Fund to buy Ukrtelecom for UAH 10.575 billion, and it plans to provide an official response to the State Property Fund by February 18.

Goldscheider added that Ukrtelecom would be acquired partially with loans, but he did not state the amount of loans that the company intends to obtain.

As Ukrainian News earlier reported, the State Property Fund proposed on February 11 that ESU acquire 92.79% of the shares in Ukrtelecom for UAH 10.575 billion.

An expert valuation of the 92.79% stake determined that the value of the stake exceeds its starting price by UAH 75 million.

In accordance with the requirements of the legislation, the State Property Fund has asked ESU to buy the 92.79% of the shares in the Ukrtelecom for this amount because it is the only bidder for the shares.

The State Property Fund decided to conduct a valuation of the shares because ESU was the only bidder.

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