OREANDA-NEWS. July 08, 2010. Mantara Holding, a company close to the Pryvat Group, filed a lawsuit with the State Property Fund of Ukraine (SPF) to cancel the sale of Luhanskteplovoz to Transmashholding, the SPF head announced July 6. On the next day, July 7, Serhiy Tihipko, the Deputy Prime Minister for Economic Affairs, has expressed his concerns over the transparency of the Luhanskteplovoz sale. He also pointed out that Mantara Holding was willing to pay as much as UAH 600mn for Luhanskteplovoz compared to the UAH 410mn paid by Transmashholding.

Millennium Capital: the news is negative for the company since Pryvat seems to be determined to embark on the protracted litigation proceedings to void the privatization sale results. We also noticed that it has found a good lobbyist for its interest in the face of Serhiy Tihipko, which may strengthen its chances in the case.