KIEV, May 18 - The Prosecutor General’s Office on Wednesday reported it won a court ruling allowing the government to nationalize a 68% stake in the country’s sole aluminum smelter ZALK.
The stake, originally sold to commodity trader AvtoVAZ-Invest in February 2001 for $70 million, has been most recently owned and controlled by Russian aluminum group Rusal.
The Kiev Commercial Court of Appeals on Tuesday ruled to cancel a court ruling by the Kiev Commercial Court on Dec. 27, 2010, the Prosecutor General’s Office (PGO) reported.
|