SPFU has arranged the first meeting with representatives of the company that will conduct the evaluation of Odesa Portside Plant (OPP)
On February 24th 2016, in the premises of SPFU, the first workshop was held between representatives of SPFU, companies “Uvekon”, Ernst&Young and SARS (official representative of UBS in Ukraine) concerning the organization of work on evaluation of the stake of PJSC “OPP”.
Director of “Uvekon” group companies Volodymyr Shalayev conducted the presentation of the company, while representatives of the SPFU and Ernst&Young congratulated the appraisers on winning the tender and expressed high hopes that “Uvekon” will conduct the evaluation in time and on a high professional level.
During the meeting the Fund has transferred current data for further work with evaluation for the purpose of defining the data, which is lacking. Also participants of the meeting discussed issues of confidentiality of the information provided. During the meeting participants also stressed on several methodological issues of future evaluation. Furthermore, they discussed the issues of schedule-plan and agreed on weekly meetings for current reports and prompt detection and addressing the problems.
Volodymyr Shalayev has agreed, that the scope of work is immense, but expressed confidence that strong human resource capacity of the company and its experience will allow to complete all works in compliance with the schedule. “It is truly a hard work – we will have to utilize all world-known methods of business evaluation, evaluate over 36 thousand units of main funds, conduct a thorough analysis of the enterprise, its markets, forecast its development, make a substantial amount of calculations, - Shalayev said. – But we have conducted the evaluation of enterprises, which had more than 120 thousands of main funds. We have more than 10 employees with deep practical experience in business evaluation – more than 10 years. Nearly 30 employees will be in a team to participate in the process. We have successfully met such time frames before. We will organize a system work, make a daily schedule”.
Furthermore, according to the director of the group of companies, there is an Advisor, working on “OPP” privatization, and “Uvekon” will be able to utilize the information, provided by the Advisor, which shall dramatically accelerate the work.