OREANDA-NEWS. November 23, 2010. On Dec 7 the Kyiv municipal commercial court of appeals will consider an appeal by Bryansk engineering plant (Russia) against cancellation of the contract on its purchase of 76% stake in Luhanskteplovoz, as State Property Fund (SPF) Chairman Oleksandr Ryabchenko announced Nov 22. As previously reported, on Oct 22 the Kyiv municipal commercial court terminated the purchase-and-sale contract between the SPF and Bryansk engineering plant.

Millennium Capital considers this information as NEUTRAL for Luhanskteplovoz as the case has dragged along without progress for Transmashholding, the managing company of Bryansk engineering plant. There are market rumors that Government has still advocated results of the tender to remain in force that could help LTPL to save Russian strategic investor.