DTEK, Ukraine's largest privately-owned vertically integrated power and coal mining group, is set to further expand its position in the Ukrainian power generation market after winning a privatization tender for a 45% stake in thermal power producer Zakhidenergo. DTEK, which was the sole bidder at the auction, was confirmed November 25 as the winner by the country's State Property Fund, with a bid of Hryvnia 1.93 billion ($241 million) for the stake, just Hryvnia 100,000 above the starting price. As a result, DTEK will increase its stake in Ukraine's fifth largest power producer to 70.06% with the government retaining a 25% plus one share in the energy producer.
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