27 February 2024, Tuesday, 12:37 496

Property Fund obtains control over 97.5% of Zaporizhzhia Aluminum Plant shares

Editor: Daria Zubkova

Читати українською

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The State Property Fund (SPF) increased its stake in the Zaporizhzhia Aluminum Plant (Zaporizhzhia) from 68% to 97.5% of shares.

This is stated in the message of the fund, Ukrainian News Agency reports.

"The State Property Fund expanded its control over the Zaporizhzhia Industrial Aluminum Plant. According to the decision of the High Anti-Corruption Court, 29.54% of the plant's shares, which the russian oligarch Deripaska had the right to dispose of, were transferred to the management of the fund," the message reads.

Previously, the SPF owned 68% of the plant's shares.

Thus, the total share of shares in fund management increased to 97.5%.

As Ukrainian News Agency earlier reported, in July 2023, the High Anti-Corruption Court confiscated in favor of Ukraine the assets of russian oligarchs Arkady and Igor Rotenberg, Oleg Deripaska and Yevgeny Giner, who are close to russian president vladimir putin.

In 2017, the Security Service of Ukraine served the co-owner of the largest aluminum company RusAl Deripaska with suspicion of destroying the only producer of primary aluminum in Ukraine, the Zaporizhzhia Aluminum Plant, in the interests of competitors from russia.

On March 12, 2015, the Supreme Court confirmed the decision of the Higher Economic Court to return 68.01% of the Zaporizhzhia Aluminum Plant shares to state ownership due to non-fulfillment of investment obligations by its owners.

After that, the share of RusAl, which previously owned 97.5% of the plant's shares through the company Velbay Holdings Limited (Cyprus), decreased to 29.5%.

In turn, 68.01% of the plant shares were transferred to the SPF.

In June 2015, the SPF established operational control over the plant.