LTPL Tender To Go Ahead?

Yesterday, the Kyiv Appeals Court struck down an appeal by Ukrzaliznytsya, which was attempting to have the tender conditions changed, opening the door for the privatization of Luhansktepolvoz (LTPL: BUY), which has been on hold since October 2. Following the ruling the head of the State Property Fund (SPF), Valentina Semenyuk said the new date for the tender would be announced in the near future. Olha Pankiv:  The ruling is good news for LTPL, which needs the tender to provide it with desperately needed working capital. The current tender conditions appear to put Russia’s TransmashHolding in the driver’s seat. However, look for AvtoKrAZ (KRAZ: HOLD), which was recently announced the winner of a past tender for LTPL, to put up more legal obstacles for the winner of the new tender.