FGI bad bargain with AeroSvit
privatization of state shares AeroSvit not yet take place: the process is blocked by the court. The initiator of the proceedings was the company which, according to market participants, acting in the interest of Igor Kolomoisky. Statutes of claims related to inadequate assessment of the cost of selling a package that could force it to reconsider FGI.
The sale
22,4% of state-owned stock company Aerosvit suspended the definition of the District Administrative Court of Kyiv. The plaintiff is the investment company On-line Capital, which previously was seen buying up shares of joint stock companies in the interests of the group Privat .
Recall, On-line Capital expressed interest in acquiring government stake, supported by her protestations of willingness to pay for a package of 35 million UAH. (which is almost twice as high as official estimates - 17 million grn.). That score made by an independent appraiser on the procedure for the State Property Fund, became the basis for the claims of the plaintiff: he considered it inadequate. In our view, the package is sold illogical, since we have offered better conditions. What happens - it is not for sale, distributing it, - explained the general director of On-line Capital Nikolai Pochapsky. However, he said, the company arrange, if FGI will offer a package at a fair price to other shareholders. And if they refuse to redeem, the shares must be sold at public sale, in which we will participate. We have made it clear that they are willing to pay 35 million UAH. But if the price at the auction will be raised, we are ready to make a proposal - summed up the head of the company.
in MFI with the definition of the court disagreed. We have the right to appeal until 12 October, and we intend to implement it, - reported in the press-service agencies. However, before making a decision essentially Fund has no right to carry out any action related to the privatization of shares in AeroSvit.
Court ruling caught the privatization process in full swing: MFI has already sent out the current shareholders of a private company a letter with a proposal to buy government stake for $ 17 million UAH. According to the fund, it is such a procedure permitted by applicable law. Also, the Office reported that all respondents to the invitation to participate in the privatization responded positively. Now the company Aerosvit, but the state represented by the MFI of four shareholders: the Netherlands company Gilward Investments, is equally owned by ex-CEO AeroSvit Aron Mayberg (pictured) and head of Renaissance Capital Ukraine Grigory Gurtovoi (they together almost 38% stake), LLC Genaviainvest affiliated with Viktor Pinchuk (25%), as well as the Bureau (4.8%) and OOO Ukrinfokonsalt (9,8%).
In
LLC Genaviainvest attempt to block the privatization process called illegal and causing enormous damage to the company Aerosvit which is in a difficult financial and economic situation, has a large current debt obligations and unpaid losses. Some business groups, based on their selfish interests, unlawfully interfere with the activities of the state, using as an instrument of unlawful court decisions, - commented on the company.
interesting that not all shareholders AeroSvit the court found infringement of their interests. For its part, MFI clearly acted within the law, suggesting to us as existing shareholders to buy the package. However, I understand, an issue arose with his assessment. A score must be fair and not cause problems in the future, - explained Gregory Gurtovoy.
Earlier in the State Property Fund to the public statements of companies with high price offers on AeroSvit (for example, Dnepravia offered to sell her a package of 232 million UAH.) reacted with indignation. Knowing that the procedure involves the primary parties to the sale of company, you can offer any sort of sum - retorted spokeswoman FGI Nina Yavorskaya. Meanwhile, according to lawyers, not so simple. Unless the company offers a package price higher than that determined the independent evaluator, the MFI shall implement the action inside the company is not cheaper than that of the declared value, - says the director of the Center for Economic Development Alexander Paskhaver. A lawyer, deputy director of the Center for Political and Economic Analysis Anton Kravchenko questioned and the rate of pre-emptive right to purchase shares of company members: It was registered in the Economic Code, but since April this year, after adopting the law on joint stock companies, out of it removed. The new law privilege members of the private joint-stock company (formerly the Law - JSC) have only repurchase shares of additional issue. In so doing, MFI, probably guided by the procedure of sale provided for in the statute Aerosvit which spelled out more under the old law.
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