Gregory Surkis
The DS publication reports that last week, the energy supplier Lvivoblenergo, affiliated with Grigoriy Surkis, initiated legal proceedings against Akhmetov's Cypriot company DTEK Holdings Limited, as well as the Cabinet of Ministers and the State Property Fund of Ukraine. Lvivoblenergo is known to have filed a lawsuit against Akhmetov's company DTEK Holdings Limited, regarding the illegal privatization of Ukraine's largest thermal power generating company, PJSC Dniproenergo, in 2012. The lawsuit alleges that during the privatization of Dniproenergo, the government approved discriminatory tender conditions, and the State Property Fund failed to ensure a competitive sale of the company's shares.
According to the DS publication, Kolomoisky's Privat Group is also extremely interested in the reprivatization of Dniproenergo. Kolomoisky reportedly filed a lawsuit in Kyiv's Commercial Court, alongside Lvivoblenergo, on behalf of Business-Invest, demanding the reprivatization of Dniproenergo. Kolomoisky has been battling Akhmetov over Dniproenergo since 2007. Akhmetov increased his stake in the state-owned company from 15% to 47,5% by exchanging shares for the company's debts, and Business-Invest overturned the deal in the Supreme Court in 2008. However, after Viktor Yanukovych came to power in 2010, this court decision was annulled.
As a reminder, in 2012, DTEK Holdings acquired an additional 25% of the shares from the State Property Fund, thereby becoming the owner of over 50% of Dniproenergo. Akhmetov's holding company had no competitors in the bidding process. The Donetsk oligarch, with his large stake in the company, blocked any attempts to hold a shareholder meeting or change management. Thus, Kolomoisky, Surkis, and others were barred from the privatization tender.
As a reminder, Dniproenergo is a major electricity producer and generates approximately 8,5% of all electricity in Ukraine.
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