"United Mining and Chemical Company" | News | BDO Corporate Finance becomes an investment advisor of PJSC UMCC
BDO Corporate Finance becomes an investment advisor of PJSC UMCC
08.08.2018Last Friday, on August 3, Vitaliy Trubarov, Head of the State Property Fund of Ukraine, announced the name of the company that became an investment advisor of PJSC United Mining and Chemical Company. BDO Corporate Finance, which is a part of Baker McKenzie, Baker Tilly Ukraine and ASSET EXPERTISE consortium, will perform this role. These are known and highly respected foreign companies in the global consulting and financial services market.
BDO Corporate Finance will help appraise the starting price of the company and will oversee its preparation for the sale at the tender.
PJSC UMCC welcomed this event. “The choice of the investment advisor is an important element of the company’s preparation for sale. That is why we welcome this event, as it is a logical step in the privatization process. We are confidently moving towards an investor,” commented Oleksandr Gladushko, Acting Chairman of the Board of PJSC UMCC.
As a reminder, on June 11, the SPFU signed 22 orders on privatization of large state enterprises, including PJSC UMCC. In the end of June, competition was announced for the selection of investment advisor. The company is now awaiting the next steps in the privatization process, namely transfer into the management of the State Property Fund, appraisal and audit.
In 2017, PJSC UMCC reported a net income of UAH 443.7 mn, according to the international financial reporting standards, paid taxes and mandatory fees to the budgets of all levels in the amount of UAH 875.7 mn, and also UAH 321.8 mn dividends to the national budget. IN 2017-2018, the company's authorized capital grew from UAH 1.9 bn to UAH 3 bn. Investments into renewal of the transport and special machinery pool of the company's subsidiaries – Vilnohirsk Mining and Metallurgical Plant and Irshansk Mining and Processing Plant – totaled nearly UAH 200 mn.