The government postponed the privatization of the former “Turboatom” until the end of the war

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Currently, the Cabinet of Ministers is not considering the possibility of privatizing JSC “Ukrainian Energy Machines” – enterprises “Turboatom” and “Elektrovazhmash”, previously partially affiliated with Russian oligarch Oleksiy Mordashov.

About this told head of the State Property Fund Vitaliy Koval in an interview with LIGA.net.

The head of the Fund noted that 76% of the shares of JSC “Ukrainian Energy Machines” are under the control of the Cabinet of Ministers, not in the State Property Fund.

“This is now a strategic enterprise that works on energy and critical industries,” Koval explained.

According to him, the privatization of the joint-stock company is not planned until the end of the war.

“As far as I know, the government is not considering the possibility of privatizing JSC “Ukrainian Energy Machines” until the end of martial law,” Koval said.

“Ukrainian Energy Machines” was created at the end of 2021 by merging two Kharkiv industrial giants – “Electrovajmash” and “Turboatom”.

“Turboatom” is the only Ukrainian manufacturer of turbine equipment for hydro, thermal and nuclear power plants. The largest minority shareholder of the enterprise (15.34%) was the venture investment fund “Syomiy” under the management of AMC “Svarog Asset Management”. Another 5.60% of shares previously belonged to structures affiliated with the Russian holding “Power Machines” (actual owner – Oleksiy Mordashov).

We remind you:

By its decision, the Cabinet of Ministers instructed the State Property Fund to ensure the joining of JSC Zavod “Electrovajmash” to JSC “Turboatom”, in July the FDM initiated a meeting of shareholders on this issue.

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