Rus News Journal

AUTOGAS privatisation

As GAS bought up itself at check auction

this week the governmental commission which is finding out circumstances of purchase by Gorki car factory of privatisation checks at the expense of public funds finishes work. Results of trial can bare, at last, the widespread scheme of buying up by the enterprise of own actions at check auction. Thus strengthened the positions many directors, however for a hand caught not everyone - especially so largely: it is a question of purchase by GAS about 1,5 million checks.

Terms of the announcement of results of the All-Russia auction on which the controlling stock of one of giants of the autoindustry - Gorki car factory was on sale, have passed for a long time: Still on January, 27th have expired lawful 40 days from the demands acceptance beginning. However the seller (fund of property of the Nizhniy Novgorod region), referring to labour input of gathering and data of demands on 66 regions, results till now did not declare.
according to experts, the principal cause of inhalings is covered not in technical difficulties. From when will be summed up - to or after meeting of shareholders (and it transferred already some times), - the struggle outcome " depends; at the highest levels between the Nizhniy Novgorod governor Boris Nemtsov (he sees the new director Gaza eks - the minister of motor industry of the USSR Nikolay Pugina) and the present director Gaza Boris Vidjaevym. (About alignment of forces on Gaza before auction carrying out wrote in #48 for 1993.)
Struggle has so become aggravated that the most powerful means of an inhaling of summarising has gone to a course: check of legality of the carrying out of auction. Since February, 7th in Bottom the governmental commission (created, seemingly, under the initiative g - on Nemtsov) works. It is headed by the chief of tax police of Russia g - n Diamonds, into commission structure have entered g - yes Ivanov (the vice-president of tax police), Aleksashenko (the deputy minister of the finance), Nemtsov (the governor of Nizhni Novgorod) and Sokolov (the chairman of the Russian Federal Property Fund).
At the disposal of the commission there were the documents confirming purchase by GAS through 15 false firms of 1048 thousand of vouchers - thus that the sum of delays of payments of car factory of the budget makes now nearby 100 mlrd roubles.
it is difficult and important (for cancellation or updating of results of auction) to prove that checks are used for participation in the All-Russia auction, and, for example, are not sold, not used any in another way. This question is basic that is why: GAS has no right to participate in auction as does not get under definition of the buyer under the law on privatisation, after all in the federal property before auction summarising remains more than 60 % of actions.
so, before the commission there is a challenge: to trace the checks submitted GAS on participation in auction through false firms. It is known that GAS concluded with intermediaries contracts about assistance in stock market which inherently are commission contracts. Hence, the checks shown for participation in auction on behalf of such firms, belong to the enterprise, that is, on a legal language - to the inadequate buyer of the privatised property.
in case it will be possible to reveal the checks submitted on auction Gorki car factory, three scenarios of the further succession of events are possible: Carrying out of new All-Russia auction (that is cancellation of all demands), renewal of demands acceptance for auction, summarising under the collected demands with a simultaneous recognition of some demands the void.
at succession of events under last scenario inevitably there will be a problem of branch of sheep from kozlishch - that is differentiations lawful and illegal checks of participants of auction. Here, say, can get actions pensioners Gaza which checks were collected by the company GAS - invest ? Certainly, can - and get: this company has submitted one of the largest demands on auction. But on hearings, she participated in auction not only checks of pensioners, but also the checks transferred under the contract by GAS. And now imagine, what it will be not simple this hearing to prove, but also to find out, where one vouchers come to an end - and others begin.
purely economic consequences of each of scenarios - first of all, influence on an auction course Are interesting. In a case cleanings that is a response of the demands submitted GAS through intermediaries, the share price will fail: according to preliminary data, in aggregate GAS napodaval demands on 70 - 90 percent of the controlling stock exposed on auction.
it is the most expedient, in our opinion, to spend auction anew. There can be new investors: a motorcar giant controlling stock - a bait not such bad. After all it seems many potential investors just also were frightened off by too resolute participation Gaza in the last auction.
anyway while with GAS the governmental commission understands, checks of several hundreds investors - participants of the All-Russia check auction (citizens, check funds, commercial structures) - have appeared frozen on some months.