Ostchem Investments Concentrates 90% of Stirol
OREANDA-NEWS. November 25, 2010. Ostchem Investments, the company affiliated with DF Group (Dmitriy Firtash), has concentrated 90.3% of Stirol, as reported in the information disclosure system of the State Securities and Stock Market Commission on Nov 24. According to the Ukranews announcement, in the separate news it is indicated that the Supreme Court upheld judgments of lower instance courts confirming the ruling of the arbitration institute of the Stockholm Chamber of Commerce that obligates Naftohaz Ukrainy to return 12.1 MMcm of natural gas to RosUkrEnergo (RUE), UkraNews claims. Firtash (45%) and Gazprom (50%) are primary owners of RUE.
Millennium Capital considers the news as NETRAL for Stirol, as both pieces of news have already been priced in. Millennium Capital expects the government will negotiate with RUE soon on the delivery schedule with further supply of this gas to Stirol and RivneAzot.
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