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Energy DTEK to invest UAH 20mln in buying out minority stakes of Donetskoblenergo

The privately owned energy holding DTEK is associated with domestic tycoon Rinat Akhmetov

DTEK Power Trade, part of DTEK's holding, started buying out minority stakes of DTEK Donetskoblenergo for UAH 8.78 per share being ready to spend UAH 20mln for the purchase of shares.  

PJSC DTEK Donetskoblenergo placed a public offer for minority shareholders about the mandatory sale of shares, according to the National Securities and Stock Market Commission.

The move was triggered by the recent changes introduced into the Ukrainian law allowing major shareholders of DTEK to buy out the remaining shares of DTEK Donetskoblenergo.

Worth noting that a share price of UAH 8.78 per share is the highest price for the company shares during the last 12 months. 

To compare, Ornex of SCM Group, associated with mr. Rinat Akhmetov, purchased 25% stake in DTEK Donetskoblenergo for UAH 143.8mln. As a result of the transaction, the share capital of DTEK's power holding increased to 96.52705% (a number of 63,241,796 shares)

At the moment, the total number of shares  in circulation of  the company is 65,517,175.

Thus, the majority shareholder will need to allocate about UAH 20mln for the buying out of the remaining shares.

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