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April 9 2002, 16:23 Interfax-Ukraine

Bread of Ukraine to change the owner

Interfax Ukraine reported that Ukrainian government while reviewing privatization of the State JSC Khlib Ukrainy considers a domestic bank to take over the said company.

Ukrainian Vice-Premier Kozachenko said to the Apr 8th press conference that his Cabinet would be against a foreign grain trader to replace Bread of Ukraine as this may lead to monopolization of Ukrainian grain market.

"Best of all this purpose could serve a bank which could attract additional cash and provide efficient management," said the Premier.

Meanwhile, the state will control the activity through the controlling stock with the property of Bread of Ukraine remaining the state property.

Kozachenko believes that it is necessary to radically change the company structure, set up control over cash and resource flow, implement modern model of company management, since the present day status leaves many loopholes for abuse.

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