experts call the main contenders for the purchase of a major producer of ammonia and ureaOdessa port plant (IPF, Odessa Oblast), Russian companies, especially Sibur Holding and Eurochem.
Among the possible candidates for IPF favorites are the largest Russian companies, especially - Sibur , - said a senior analyst of investment-financial group Socrates Dmitry Horoshun.
It also allowed more likely to participate in the competition, the largest European producers of nitrogen himudobreny, primarily Norwegian Yara International, as well as a consortium with the participation of almost all the major players on the Ukrainian market.
Horoshun added that if the group Privatbank decides not to participate in the competition, focusing on other industries (eg oil), it is doubtful that other Ukrainian players, even collectively can accumulate sufficient resources to qualify for IPF.
According to the Head of the Department of agribusiness and the chemical industry of the information-analytical center Gosvneshinform Dmitry Gordeychuk major favorites in the competition for the sale of AEs were Sibur and Eurochem, at the same time, the expert did not rule out the establishment to participate in the competition co - consortium with the participation of major European and Ukrainian manufacturers, such as Yara International and styrene (Cherkasy, Donetsk Oblast).
According to Dragon Capital Investment analyst Tamara Levchenko, Russian enterprises are most interested in buying the IPF as compared with the major European, and especially with the Ukrainian producers of nitrogen fertilizers.
If the largest Ukrainian financial-industrial groups are willing to buy the plant, for today, in the absence of external financial resources and unfavorable conditions in the chemical market, our companies are unlikely to participate in the competition, - said Levchenko.
All the experts said, as the chief advantages of Russian companies to other applicants to ensure their supply of cheap natural gas as the main raw material for the IPF, which is especially important at low prices for urea and ammonia in the world markets.
Also, experts noted that the MFI set the starting price of the asset is overstated.
Levchenko estimates the value of AEs in 200 million dollars, but without the premium for control, and transportation synergies.
Price is not empyreal, but it can be characterized as excessive, - she said.
Gordeychuk also stressed that the starting price of the asset is too high, especially against the backdrop of a tough competitive environment, and did not exclude a review of conditions of competition in the future - a reduction of the starting price, or mitigating circumstances.
In turn, the starting price Horoshun considers adequate and admits that if there is sufficient competition in the tender price, and could reach 750 million dollars.
As reported July 15, MFI announced a competition on sale of 99.567% of the shares in IPFs.
starting price for sale of shares is 4 billion hryvnia.
Competition is scheduled for September 29.
2008, the Odessa Port Factory finished with a net profit of 796.977 million hryvnia.
100% of the shares of Open Joint Stock Company Odesa Port Works was state-owned and operated by MFI.
Factory specializes in the production of ammonia and urea, trans-shipment of chemical products, from the CIS countries for export.
Eurochem and Sibur Holding (together with the Akron and Ukralhimom ) is a leading manufacturer of nitrogen fertilizers in Russia, Sibur controlled gas monopoly company Gazprom, Eurochem - businessman Andrei Melnichenko.
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