Business news from Ukraine

KPMG TO PREPARE BILSHOVYK PLANT IN UKRAINE FOR PRIVATIZATION

KPMG Ukraine consulting firm has won the tender for the selection of an advisor for the preparation for privatization and sale of 100% of the charter capital of JSC First Kyiv Machine Building Plant (formerly Plant Bilshovyk, Kyiv), the press service of the State Property Fund of Ukraine (SPF) has told Interfax-Ukraine.
“The winner was KPMG Ukraine. There were three applications in total. KPMG won, as it scored the most points. The agreement with KPMG has already been signed. Documents are being prepared for the approval of the privatization adviser by the Cabinet of Ministers,” the press service told the agency.
As reported, at the end of September 2020, Head of the State Property Fund Dmytro Sennychenko said that Bilshovyk Plant was included in the list of objects for privatization formed by the fund for next year.
According to the information on the SPF’s website, the tender for the selection of a privatization adviser was announced in August this year. At the same time, the tender committee made a number of decisions for the successful privatization of this asset.
“Despite resistance, attempts to alienate property by raider methods and political pressure, we are moving privatization forward. At a transparent tender, an advisor will be selected who will qualitatively prepare the privatization object to attract an investor,” Sennychenko said.

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STATE-RUN UKRENERGO ATTRACTS KPMG AND TALENT ADVISORS TO DEVELOP COMPLIANCE POLICY

Ukrenergo on July 24 signed an agreement with KPMG Ukraine on the development of a compliance policy for the company, the press service of Ukrenergo has reported. “When developing the documents, emphasis will be made on specific compliance standards, concerning the work of transmission system operators, for which KPMG Ukraine will attract one of the German transmission system operators as a consultant,” the press service said.
In addition, on July 2 Ukrenergo signed a contract with the recruiting agency Talent Advisors LLC to find a compliance officer, who is also expected to be appointed as an agent for the implementation of an anti-corruption program in the company.
As reported, compliance is part of the management/control system in the organization, related to the risks of non-compliance with the requirements of legislation, regulatory documents, rules and standards of supervisory bodies, industry associations and self-regulatory organizations, codes of conduct, etc.

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