EastOne sells 60% stake in Dniprospetsstal to VS Energy?

EastOne, related to Ukrainian businessman Viktor Pinchuk, has sold a 60% stake in Dniprospetsstal (DNSS: HOLD) to VS Energy, Kommersant-Ukraine said today, referring to an undisclosed source. Eugene Cherviachenko: The sale looks feasible to us, taking into account that Dniprospetsstal is a non-core asset for EastOne. We think the news will have a limited impact on the stock. It is not clear yet whether the company will confirm its expansion plans: Dniprospetsstal considered investing USD 50-100 mln in development projects over the next two years. Additionally, Dniprospetsstal might cancel the IPO plans it announced in October 2007.