Ukraine lifts moratorium on sale of enterprises with state stake not less than 25%

16:33, 26 July 2015
Economy
193 0

President of Ukraine Petro Poroshenko signed a law lifting the moratorium on sale of companies that have a state stake of not less than 25% in order to redeem debts to Naftogaz of Ukraine national joint-stock company, said Representative of the President in the Cabinet of Ministers Oleksandr Danylyuk at a briefing in Kyiv.

Photo from UNIAN

"This law will help to improve the financial situation in Naftogaz and the industry as a whole," Danylyuk said.

As UNIAN reported earlier, on July 16, the Verkhovna Rada adopted amendments to the Law "On introduction of moratorium on forced sale of property" providing for cancellation of the moratorium on the sale of assets of Naftogaz’s debtor companies.

Debts of district heating utilities, owned by the state or with a state stake in the authorized capital of not less than 25%, to NJSC Naftogaz of Ukraine amount to about UAH 1.5 billion. Prior to the adoption of the law, the company had not had effective tools for recovering debts.

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