sale largest chemical asset - the Odessa port plant - again foiled. Yesterday, the competition committee MFI refused to recognize the buyer company Nortima controlled by shareholders of Privatbank.

But Prime Minister Yulia Tymoshenko accused the contestants in the conspiracy. Nortima challenged the decision to fund in court, but to achieve recognition of sales will not be easy, say lawyers.
  Meanwhile, the Cabinet and MFI are already preparing for new competition to be held next spring.

Morning optimism

The State Property Fund (SPF) were prepared for the fact that the sale of 99.567% of the IPF will be held outside the box. Approaches to the building of MFI street Kutuzova, 18 /9, which hosted the competition, with 8.00 were blocked by a double chain of militia, and in the lobby of Commons on duty special forces. Over the police cordon were not even allowed cars of investors - two Hummer jeeps Michael Kiperman and Mercedes G-Class Timur Novikov, representing the company Nortima, standing 100 meters from the entrance to the building of Lesya Ukrainka.

should be reminded that President Viktor Yushchenko issued a decree designed to block the privatization of the IPF in this year, and filed a similar claim in the Constitutional Court. District adminsud Kiev on September 22 suspended the contest the claim Dniproazot (controlled by the group Privat).

However, no unpleasant surprises in preparation for the auction was not, except for the small rally, whose members chanted Stop the white oblique. Head of tender committee, deputy chairman of the MFI Igor Belotserkovets explained that since the executive office had not opened the case by the decision of the District adminsuda Kiev and bailiffs are not required to stop the auction, the Ministry of Justice allowed the MFI to hold a competition. Then he quite casually from investors took their program of development of IPF, noting that they are all properly sewn, numbered and murals are on all pages.

participated in the contest, all three investors who have filed an application - Nortima controlled group Privat, Frunze Flora Konstantin Grigorishin and Nitrogen-Service, affiliated with Russia's concern, Sibur. On the eve of the competition with the statement made by one of the jury members - Head of the Presidential Secretariat Eugene Kapinus.

He argued that the sale should not be held before the Constitutional Court will consider the claim of President Viktor Yushchenko. He was supported by Representative Nortimy Roman Zhugan, demanded that Mr. Belotserkovets named the company, which the court forbade personally participate in the contest - Nitrogen-Service. Mr. Belotserkovets responded to the speech of Mr. Kapinus quietly: Thank you for the information. We turn to the competition.

Bids

The surprises began when, as, printing a proposal for a starting price, SPF found that application of Nitrogen-Service, which the fund is called the favorite trades, the weakest - they offered to plant the entire 4 billion UAH. Frunze Flora - UAH 4.02 billion, and Nortima - 4.1 billion UAH. Since the latter amount, and started trading.

catches the eye is how auctions differ from the auction for sale of 93,02% shares of Kryvorizhstal in 2005. Not only that, during the sale of AEs were 18 auction steps, and Krivorozhstal - 76. And is not that the price of IPF has increased only 18%, and metkombinata - at 240%. The main difference was the behavior of buyers.

to bid for sale of Kryvorizhstal head of industrial group Sergei Taruta constantly consulted with someone on the phone, visibly nervous and finally annoyed, said: At this price, this works, we do not need you! Nervous and other participants. Yesterday's contest was quite sluggish. Representatives of Nitrogen-Service , for example, phone calls, and went out to tender, despite hundreds of them scattered on the issues, not a word, smiling apologetically press. Letsitator stopped the contest around 12.00on the amount of 5 billion UAH proposed Nortimoy. Competition Commission retired to deliberate.

Cold Reality

Commission holding a council long. Already at 12.10 and went to the press. about. chairman of the MFI Dmitry Parfionenko and announced that the contest is declared invalid. The position of the Fund and the Government - not to sell these pearls at low prices. But you all saw how trades. Therefore, we recognize the competition failed. AEs remained in state ownership, - said Mr. Parfionenko. According to him, the price of a controlling stake IPF is at least 8.10 billion UAH. A starting price of 4 billion UAH long-anticipated auction, as in the case of Kryvorizhstal.

first deputy chairman of the special control commission for privatization of the Verkhovna Rada Oleksandr Bondar, who attended the meeting, the tender committee and released together with Mr Parfionenko, said that, according to commission members, Sibur simply not a serious went to the competition by offering a price for the object , underestimated by several times. Their behavior is difficult to explain, - he said. Later, the behavior of Sibur explained Prime Minister Yulia Tymoshenko.

In her view, there is a conspiracy contestants, that they had agreed to buy IPF for two, having paid for it underestimated the amount. Investors are also able to pay more, according to her, scared away by the claims Dniproazot affiliated with Nortimoy.

Investors do not agree with the statement the prime minister. In Sibur-holding stated that their price is due to the current situation in the market of mineral fertilizers, as well as the fact that IPF is more cost-base. Mr. Novikov sure that Ms Tymoshenko should either provide evidence of a conspiracy, or apologize. A businessman Konstantin Grigorishin told Kommersant that the MFI were originally inflated predictions about stock prices IPF. Representatives of Nortimy, said yesterday: We intend to require the Fund to recognize the contest held, and if this does not happen - to compensate us for losses caused by the fact that competition has been thwarted, despite the bail.

Mr. Parfionenko, by contrast, considers the decision of the tender committee is fully legitimate. He refers to the Law on privatization , according to which the competition commission has the authority to make decisions about the legitimacy of the competitions. These powers included the provisions of the MFI on the conduct of privatization tenders and on the tender committee. Competition Commission - it is like a jury. Even if her decision is doubtful, in practice it is virtually impossible to challenge - agrees Partner: Legal Partners Andrew Domanski.

According to Alexander Bondar, would be difficult to prove the fact of damages caused by the group Privat by the MFI. The accusation is based on the fact that thwarted competition caused by the commission. But the MFI can bring to the court received evidence of the Antimonopoly Committee affilyatsii Nortimy and Dniproazot, after which the court will have to take into account the fact that the competition sought to frustrate just beneficiaries these two companies, - he said.

Despite promises Nortimy to contest the sale in court, MFI began preparing for the third competition on sale of shares in IPFs. As explained yesterday, Mr. Parfionenko, it may be held next spring. According to him, then the state of the market of mineral fertilizers and the political situation in the country will be more favorable.

Oleg Gavrish

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