Ferrexpo says Ukrainian court rules 2002 share deal invalid
Ukraine-focussed pellet producer Ferrexpo said on Tuesday an appeal court has ruled that a share sale from 2002 was invalid, and a 40.19% stake in Ferrexpo Poltava Mining (FPM) should be transferred to the former shareholders of FPM.
The company said it was exploring all options, including its right to appeal the decision to the Supreme Court of Ukraine.
Four former shareholders of FPM have filed claims to invalidate a share purchase deal from 2002, in which a more than 40% stake in FPM was sold to its former CEO Kostyantin Zhevago and other parties.
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