The Cabinet of Ministers has transformed Ukrzaliznytsia from a public joint-stock company into a private joint-stock company. The government made the relevant decision at a meeting on Wednesday, 31 October, the Interfax Ukraine news agency reports.

The government also redistributed powers between the company’s shareholder (the government), its supervisory board, and its board of directors in accordance with the requirements of the Law on Joint Stock Companies. This is aimed at ensuring efficient corporate governance, according to the materials of the government meeting.

According to the documents, this will create a balance between the shareholder, the supervisory board, and the board of directors and simplify the process of attracting potential investors.