Rus News Journal

ONEKSIM has challenged the transaction with Deutsche Bank

Michael Prokhorov`s Group ONEKSIM has successfully challenged the contract on which Deutsche Bank has sold 76,94 mlrd actions (4,02 %) Open Society “ Territorially - the generating company ¹4 “ (TGK - 4) within the limits of the obligatory offer made Onexim Holdings Ltd (50 % of actions TGK - 4 own) minoritarijam the power companies. The contract has been concluded on October, 17th, 2008, and one of these days the arbitration court of Moscow has nullified it. Group ONEKSIM has made the obligatory offer in July, 2008. But on October, 8th TGK - 4 has been included in the list of the strategic enterprises that does not allow the foreign company (Onexim Holdings it is registered in Cyprus) to receive in the power company a controlling stock without the coordination with the governmental commission. Group ONEKSIM has submitted the claim about a recognition of the offer void, on October, 17th the court has forbidden a registry holder, Central Moscow depozitariju, to make operations within the limits of the offer, however minoritariev contracts about sale of actions had time to conclude a part. Onexim Holdings has challenged such seven contracts, but the claim to Morgan Stanlåy on January, 23rd has refused. The claim to Deutsche Bank became the first, which court has considered in essence.