Tymoshenko To Put Nikopol Ferroalloy Up For Sale Again.

Prime Minister Tymoshenko instructed Industrial Policy Minister Volodymir Shandra, Justice Minister Roman Zvarych and the Head of the SPFU Valentina Semenyuk to draft a plan for the re-privatization of the 50%+1 share of Nikopol Ferroalloy (NFER: SELL). In addition, on August 30 an EGM sponsored by Privat group, and attended by a government representative took place. The EGM elected a new NFER Supervisory Board headed by the Vice Minister of Industrial Policy Serhry Gryshchenko. Privat group?s representatives Timur Novikov and Gennady Korban were elected to the Board, and another representative Mykola Nadtochenko was appointed NFER’s CEO. At the same time, Nikopol City Court ruled as a result of Interpipe?s suit that this EGM was unlawful. Concorde Capital: The fight for the 50%+1 share of NFER is going to be tough. Interpipe will continue to appeal the Higher Economic Court?s ruling that said NFER?s privatization was unlawful. In addition, Interpipe is ready to participate in re-privatization along with Russia?s Renova and Privat group. Meanwhile, the stock?s price will be prone to speculation and may grow above its fair value due to the agiotage.