Controversy Clouds Nikopol Ferroalloy (NFER) ?AGMs.?

Court officers appeared at NFER’s AGM in Nikopol today to prohibit Interpipe’s management from participating in the meeting. Previously, a court decision cancelled Interpipe’s privatization of NFER, but the company decided to hold an AGM in spite of the ruling. Concorde Capital: A second NFER AGM is being held inOrdzhonikidze and is sponsored by Privat Group, which holds a 25% stake in the company. Privat hopes to establish control over NFER by taking advantage of the recent court ruling. The results of both AGMs are likely to be highly controversial and a shareholder battle may follow. WATCH for further developments.