The Cabinet of Ministers is transferring State Enterprise “Forests of Ukraine” to the status of a joint-stock company, but 100% of the shares will remain in state ownership, Prime Minister Yulia Svyrydenko announced.
“Today, at a government meeting, a number of decisions were made that are important for the stability and development of the forestry industry. State Enterprise ”Forests of Ukraine” is transitioning to the status of a joint-stock company. We are doing this to ensure a more effective corporate governance model with transparent reporting and to increase the competitiveness of the enterprise,” Svyrydenko wrote on Telegram following the results of Friday’s government meeting.
According to her, the transformation of the enterprise into a joint-stock company does not imply privatization—100% of the shares remain in state ownership.
Subsequently, the prime minister’s message was edited, and information about this decision was removed.
