OREANDA-NEWS. On Friday, October 12, a Zaporozhie court halted bankruptcy proceedings at Dniproenergo (DNEN) on the grounds that all of its creditors had agreed on the financial readjustment plan proposed earlier by Donbass Fuel and Energy Company (DTEK), in which DTEK would repay DNEN’s debt of UAH 1.01 bln ($208 mln), Alfa Bank's information department reports.

Pivdenny GOK (a company tied to Privat Group) was the only creditor that objected to DTEK’s plan, but its challenge was dismissed by the court as DNEN has already redeemed its debts to this company. As the agreement with DNEN’s creditors was approved by state bodies suchas the Ministry of Finance, the State Property Fund, the bankruptcy department of the Economic Ministry, NAK ECU, as well as the Antitrust Committee and the Committee of DNEN’s creditors, the chances that some political authorities  may cancel DTEK’s dilution, Alfa Bank experts believe. "We view this news as positive and maintain our "buy" recommendation for DNEN, with a 12M target price of $707/share and 40% upside," the experts state.