Ferrexpo considers squeeze out at Ferrexpo Poltava Mining

Ukraine’s largest iron ore pellet exporter Ferrexpo
(FXPO LN, FXPOLN) is considering squeezing out minority shareholders at
Ferrexpo Poltava Mining (FPM, PGOK UK), its main Ukrainian asset,
Interfax-Ukraine reported on March 15. Ferrexpo owns 99.1% of FPM shares
outstanding, Interfax said.

Dmytro Khoroshun: The squeeze out, if it happens, will be positive for Ferrexpo because
it will constitute a step forward in corporate governance by eliminating the
bureaucratic burden and legal risks attached to the current quasi-public status
of this asset. We estimate that Ferrexpo would spend less than USD 20 mln on
the buyout of 0.9% of FPM.