OREANDA-NEWS. July 27, 2010. The State Property Fund of Ukraine (SPF) and Transmashhiolding are to sign an amicable agreement on the cross-cancelation of the liabilities of each side, the Cabinet of Ministers announced on July 21. According to the document, SPF retains USD 58 mn received from Transmashholding following the privatization of Luhanskteplovoz in 2007. In its turn, the Russian company will not have to pay UAH 410mn to SPF for the acquisition of Luhanskteplovoz in 2010.

Millennium Capital considers the news as positive for LTPL, as the Russian investor receives, once again, a 76% stake in Luhanskteplovoz, and the two sides are not in debt to each other. The agreement decreases chances of re-privatization of the company and of protracted litigation.