Economy 2022-11-15T05:04:52+02:00
Ukrainian news
Luxembourg-Based Indumet Associated With ISD’s Russian Stockholders Asks Court To Declare Acquisition Of Dniep

Luxembourg-Based Indumet Associated With ISD’s Russian Stockholders Asks Court To Declare Acquisition Of Dnieper Metallurgical Combine By Dniprovskyi Coke Plant Void

HELP UKRAINIAN NEWS
Russia, ISD, Metinvest, Metinvest Group, Vnesheconombank, Dniprovskyi coke plant, Industrial Union of Donbas, Luxembourg, Indumet S.A., VEB.RF, Dnieper Metallurgical Combine

Indumet S.A. (Luxembourg), associated with VEB.RF state development corporation (formerly known as Vnesheconombank) which in turn owns the controlling stockholding in the Industrial Union of Donbas (ISD), has asked the Economic Court of Dnipropetrovsk Region to declare void the agreement on the acquisition of the Kamiyanske-based Dnieper Metallurgical Combine (Dnipropetrovsk region) by Metinvest Group-controlled Dniprovskyi Coke Plant (formerly known as EVRAZ Dneprodzerzhinsk Coke and Chemical Plant).

This follows from court records dated October 19, Ukrainian News Agency reports.

Indumet has applied to the court with a statement of claim against the Dnieper Metallurgical Combine, in which it asks to invalidate a transaction committed in violation of the procedure for preparing and holding an auction, invalidating certificates of acquisition of real estate, and canceling records of ownership in the State Register of Real Rights to Real Estate.

The court accepted the statement of claim for consideration and opened the proceedings.

At the same time, the court postponed the preparatory hearing for November 9.

As Ukrainian News Agency earlier reported, in early August, the Dniprovskyi Coke Plant agreed to purchase Dnieper Metallurgical Combine for UAH 9.17 billion.

On July 26, an auction was held in the ProZorro system with the participation of Dniprovskyi Coke Plant as the only participant, in which the enterprise won by offering UAH 9.17 billion for the Dnieper Metallurgical Combine.

The auction took place as part of the Dnieper Metallurgical Combine bankruptcy case, the starting price of the lot was UAH 8.39 billion.

In June 2019, the Economic Court of Dnipropetrovsk Region began a bankruptcy case against the Dnieper Metallurgical Combine, while on October 16, 2020, the court began to reorganize the Dnieper Metallurgical Combine.

Previously, Dnieper Metallurgical Combine was part of the Industrial Union of Donbas corporation.

At the end of March 2021, the economic court of the Donetsk Region opened bankruptcy proceedings for the ISD corporation.

This decision was made at the request of Indumet S.A.

In January, member of the Ukrainian Parliament of the Batkivschyna All-Ukrainian Association/shareholder of ISD Serhii Taruta said that Indumet S.A. was associated with the state corporation VEB.RF, which owns a controlling stake in the corporation.





News

ok