Court Starts Financial Recovery For Rivneazot.
12 December 2008
Raiffeisen Investment, which bought 53.68% of Rivneazot (RAZT) from the State Property Fund in 2003, says it hopes that in the course of financial recovery (12 months) the company will pay off its debts and improve its financial standing. Nearly 24% of Rivneazot belongs to the Statex Corp, which is related to Finance and Credit Group. Concorde Capital: Rivneazot increased net revenues by 91% to USD 85.4 mln yoy in 3Q05, and brought its negative EBITDA and net income to USD 6.4 mln and USD 0.9 mln respectively in 3Q04. Rivneazot also increased its net debt from USD 8.9 mln in 3Q04 to USD 38.7 mln in 3Q05.
