The Ukraine government is to sell a 24 per cent stake in its power generating company, Tsentrenergo, with the official tender announcement due in the second quarter of this year according to the deputy prime minister.

The Tsentrenergo sell-off will follow the privatization of Donbassenergo – a 24 per cent stake in this company is to be sold by international tender this year – Reuters reports. The State Property Fund is in charge of selecting company to handle the sale of Donbassenergo.

The authorized capital in Tsentrenergo, one of four electricity generators in Ukraine, is about $50 million. The four companies sell power to 27 regional distributors.

Under the terms set for the sale, the government will retain a 51 per cent stake, while workers are entitled to a combined share of 17.7 per cent.