The Cabinet of Ministers has established a special commission to prepare for the sale of state-owned stakes in two systemic financial institutions. The auction is scheduled for 2027, and the proceeds will be used to fund the Ukrainian Armed Forces.
Ukraine has officially launched the privatization process for two major state-owned financial institutions—Sens Bank and Ukrgasbank. The government has formed a special commission that will take on key responsibilities for preparing the tenders, determining the starting price, and selecting potential investors.
This was announced by Ukrainian Prime Minister Serhiy Koretskyi, who noted that the main goal is to create the right conditions for a process that is as open and competitive as possible.
What tasks have been assigned to the government commission?
The newly created body will coordinate the entire cycle of privatization procedures. The commission’s powers will include:
- approving the procedures for conducting tenders and their specific terms;
- vetting potential buyers and deciding on their eligibility to participate in the auctions;
- agreeing on the initial value of state-owned equity stakes, taking into account expert recommendations from advisors;
- determining the winners and agreeing on the final sale price.
Final decisions regarding the disposal of state assets and the approval of tender results will be made directly by the Cabinet of Ministers of Ukraine.
To ensure a high level of trust from the international community, representatives of international financial organizations (IFOs) and relevant European Union institutions will be able to participate in the commission’s work.
Timelines, Advisors, and Where the Proceeds Will Go
The Ministry of Finance of Ukraine has already conducted a selection process and approved reputable sales advisors for both banks. They will conduct financial audits, asset valuations, and the search for interested strategic investors.
The privatization auctions themselves are scheduled for 2027. All proceeds from the sale of shares in Sens Bank and Ukrgasbank that go to the state budget will be allocated to meet the needs of Ukraine’s security and defense forces.
Source: Cabinet of Ministers of Ukraine.
