5 Jan 2012

SPF intends to sell Kyiv's Sport hotel 
SPF intends to sell Kyiv's Sport hotel
The State Property Fund of Ukraine (SPF) has announced a tender to select an assessor of the market value of the property of state-run enterprise Sport hotel at 55 Chervonoarmiyska Street in Kyiv, according to a fund report published in the Vidomosti Pryvatyzatsii edition on Wednesday.

The report says that the property of Sport hotel is to be assessed, as the fund is planning to privatize the hotel at a tender.

Earlier the fund selected assessors of the Sport hotel's property to make a managerial decision. After a tender held in August Kyiv-based Ostrov Consulting Firm, which also evaluated a 92.79% stake in opened joint-stock company Ukrtelecom when the company was put up for sale.

As reported, in November 2011 the Ukrainian cabinet agreed on the signing of a contract on joint activity between state enterprise Sport Hotel and Yudzhin Ltd. (Kyiv), part of Smart-holding, which is involved in the hotel's reconstruction.

According to cabinet resolution No. 1195-r of November 21, 2011, one of the conditions of the contract is that the land plot of the Sport hotel is in the state enterprise's constant use, and its contribution to the joint activity and its share of the result of this activity must be at least 50%.

The National Agency for Preparing for and Hosting the Euro 2012 European Football Championship and Implementation of Infrastructure Projects (Ukrevroinfraproekt) has to agree changes and additions to the contract with the Cabinet.

Read more: http://www.kyivpost.com/news/city/detail/119992/#ixzz1iZg5YANs