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. Last Updated: 07/27/2016

Kiev to Sell Motor Sich

KIEV — Ukraine will sell a 20 percent stake in the country’s only producer of plane engines, Motor Sich, at a commercial tender in October, the State Property Fund said Wednesday.

The starting price is set at 26.882 million hryvnas ($4.94 million), the fund said in a statement. The winner must modernize the plant, located in Zaporizhya in southern Ukraine. Motor Sich’s charter capital is 2.181 million hryvnas.

The fund has already sold 41.14 percent of the company. Employees hold 33.86 percent in the plant.