Ukraine to auction off 44.2% stake in petroleum product distributor

Oct 14, 1999 02:00 AM

A 44.2% stake in Ukrnaftoprodukt, a Ukrainian petroleum product distributor, will be soon put up for auction.
The prices of the share package will be fixed at 15.1576 million hryvnyas. The buyer of the share package is requested to restructure the enterprise's overdue debts, which total 7 million hryvnyas, within 60 days after the stake acquisition. The buyer is also to invest $ 2 million in one year into restructuring of the enterprise's facilities.
The buyer is to ensure supplies of 1 million metric tons of raw materials for the enterprise in 2000.

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