UKRAINIAN COURT FREEZES SHARES OF FERROALLOY GIANT

Published: 13 July 2005 y., Wednesday

Following a request from the Prosecutor-General's Office, the Kyiv Appellate Court has frozen 50 percent-plus-one-share in the Nikopol Ferroalloy Plant that belong to the Interpipe consortium controlled by Ukrainian oligarch Viktor Pinchuk, Interfax-Ukraine reported on 11 July.

The shares were sold at two auctions in 2003 for a total of 410 million hryvnyas ($82 million at the current exchange rate). The Nikopol Ferroalloy Plant reportedly accounts for 11.5 percent of the world market of ferroalloys. Earlier this year the government managed to annul the 2004 privatization of the Kryvorizhstal steel mill, which was partly owned by Pinchuk.

Šaltinis: RFE/RL Newsline
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