Court Freezes 50%+1 Share Of Nikopol Ferroalloy.

The Kyiv economic court found in favor of a complaint by the Prosecutor’s General Office. At the same time, the court declined a request by Prydniprovia Consortium, an Interpipe-related company who acquired 50%+1 share stake in Nikopol Ferroalloy (NFER: SELL) in 2003, to prohibit the state from canceling NFER?s privatization. Concorde Capital: The state is set on revising the acquisition of NFER?s 50%+1 stake for just USD 77 mln by Prydniprovia Consortium. If the state succeeds, the planned acquisition of NFER?s 73% stake by the alliance of Russian Renova and Evrazholding?s shareholders from Interpipe will fail. This is what another contender for NFER, Privat Group, is hoping for. Privat has already scheduled another NFER EGM for July 14, which can only be held if state representatives attend. Nevertheless, we believe that the state will offer to let Interpipe pay the difference to retain ownership of NFER. Otherwise, the stake will be put up for tender similar to Kryvorizhstal .