"United Mining and Chemical Company" | News | International companies show interest in JSC UMCC
International companies show interest in JSC UMCC
17.01.2020International companies have shown interest in the Ukrainian Mining and Chemical Company, according to the release of BDO Corporate Finance, which was chosen by the government of Ukraine as the privatization advisor.
As a reminder, the advisor is tasked with organization and carrying out of full audit of JSC UMCC, provision of recommendation to the State Property Fund of Ukraine regarding the starting price of the company and also with working with potential investors.
BDO Corporate Finance informed that in December 2019, it carried out pre-marketing – studying of the interest towards UMCC among qualified potential investors. The west has shown great interest in the United Mining and Chemical Company. Vitaliy Strukov, Managing Partner at BDO Corporate Finance, stated that they received ‘confirmation of interest from international companies from Asia and the USA, investment funds from Australia and Ukrainian industrial groups’.
The advisor will carry out collection of indicative proposals in February 2020. In March 2020, it plans to complete preparation of recommendations regarding conditions of tender and starting price. “Provided that the Cabinet of Ministers of Ukraine approves the corresponding decision, the tender for the sale of the share package of UMCC in the amount of 100% of the authorized capital may be held in May 2020,” reads the release of the advisor.
As of today, BDO Corporate Finance is working on the second and third stages of preparation of JSC UMCC for privatization. In particular, the representatives of the advisor are examining operational activities of the company and its subsidiaries. “We are open for any questions and reviews, as we are a public company. We are hoping that the audit conducted by the advisor will provide comprehensive information to potential buyers, and the tender, as envisaged, will be held in May 2020,” comments Oleksandr Gladushko, Acting Chairman of the Board of JSC UMCC.
You can find the press release of BDO Corporate Finance here - bit.ly/3604KeS. Also, State Property Fund of Ukraine has published a post on its Facebook page, saying that stiff competition is expected during privatization of JSC UMCC.