UKRAINE'S IUD AND PRIVATBANK COMPETE FOR PETROVSKY

摘要

Ukraine's Privatbank and the Industrial Union of Donbass (IUD) are struggling for control of the government's 42.26-percent share in Dnepropetrovsk-based Petrovsky Steel Works. Both groups have placed their bids for the state's share, but a court has postponed a privatisation auction scheduled for September 8, acting at IUD's request. According to Alexander Pilipenko, IUD's director for corporate rights and investment, Privatbank - which controls about 48 percent of Petrovsky shares via affiliated companies - violated the privatisation law by preventing IUD representatives from entering the mill's premises which they planned to inspect while preparing for the auction. IUD filed a lawsuit to a local court in Kiev which ruled that the privatisation auction be postponed. No new date has been named.