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Concorde Capital told about the preparations for the privatization of the largest coal companies of Ukraine

Ukraine / Digest

General Director of Concorde Capital Igor Mazepa commented on how preparing for the privatization of the coal company "Krasnolimanskaya".

Concorde Capital told about the preparations for the privatization of the largest coal companies of Ukraine

the Privatization of the largest state-owned coal mining company "Krasnolimanskaya" is blocked for more than a year. On the ambiguous situation around this state asset, says Igor Mazepa, CEO, Concorde Capital, whose company is an Advisor in the preparations for the privatization of this enterprise.

In July 2018, OOO "Concord Consulting", part of group Concorde Capital, won the competition for the selection of advisors for privatization of GP UK "krasnolimansky" - the largest state-owned coal mining company.

Concorde Capital in partnership with your legal adviser Redcliff and auditors from the big four undertook to complete the whole complex of works on preparation of object for privatization transparent competition before the end of 2018. "provided that the government will give us the appropriate authority and all affected government authorities and the company to contribute to the process of preparation," said Mazepa.

However, since the contest has been almost a year and a half, and the process of privatization of GP UK "krasnolimansky" and has not moved forward.

"Way to begin the process the lack of political will", - says Igor Mazepa.

First assignment, Concorde Capital, as well as other advisers large-scale privatization, successfully blocked through the courts, initiated by LLC "Grant Thornton".

"We have reasonable suspicions that the company was not independent in preventing large-scale privatization. According to our information, adoption counselors large-scale privatization in the 2018 first half of 2019 have been blocked personally influential then the people's Deputy Igor Kononenko. Grant Thornton received unprecedented support system, which leads me to think about the backing of this company of powerful the policy," said Mazepa.

Therefore, under the presidency of Petro Poroshenko, the chances of unlocking large-scale privatization looked ghostly. After coming on Bankova, Vladimir Zelensky, the situation has moved dead center - the state represented by state property Fund of Ukraine was able to represent all lawsuits on the appointment of advisers.

"On the background of loud statements of the new government about the need for large-scale privatization, we were assured on all levels about the maximum supporting the development of GP UK "krasnolimansky" for sale. But in practice, the process is sabotaged ... Our numerous appeals to the Department of energy and environmental protection (which is the formal owner of the mine) with a request to provide the primary information from GP UK "krasnolimansky" permanently ignored directly Minister Alexey Orzhel and his Deputy Stanislav by Kowalewski," says Mazepa.

In Concorde Capital stated a fact: the state mine for almost two years does not work for the interests of the state, but solely to the private company associated with Vitaly Kropachev, since March 2018 SE "Krasnolimanskaya" is not producing coal, and all of his miners working on private Krasnolimanskiy, OOO. Energy - consciously rather than unconsciously - and in the future covers all disgraceful phenomena occurring at the state mine, the company said.

"We believe that the privatization of SOE "Krasnolimanskaya" impossible under the current management and the current relationship between a company and its formal owner. The replacement of management of the coal company on a more professional and focused on cooperation with the government will allow us to quickly and accurately prepare the company for privatization", - said General Director of Concorde Capital.

According to him, after October 2019, the representatives of the investment company received assurances from the acting mine Director Sergei Pidika's readiness to provide all necessary for preparation to privatization of information, he stopped communicating.

the management of Minamaneho in the person of Deputy Minister Stanislav Kovalevsky also contributes to the implementation of an Advisor for privatization of the set tasks.

"No changes in management will attest to the fact that the current government is no different from his predecessors in his desire to "protect" and to redistribute in their favor cash flows from state assets. We urge the government to take steps to return state control over the coal company," said Mazepa.

Krasnolimanskiy, OOO wants to court to collect from GP UK "krasnolimansky" 2,829 billion. From October 2018, OOO "Krasnolimanskaya" has refused to provide authorities with information about the amount of coal mined.

the Founder of open company "Krasnolimanskaya" is "Ukrdorinvest", which connect with Vitaly Kropachev.

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