Ferrexpo PLC said on Thursday the Supreme Court in Ukraine ruled in favour of the company relating to a claim made to invalidate a share repurchase agreement from 2002.
Ferrexpo is an iron ore pellet producer operating in Ukraine.
The claim involved a 40% stake in investee Ferrexpo Poltava Mining. The latter was sold to nominee companies that were owned by the controlling shareholder of Ferrexpo.
Thursday’s update comes after Ferrexpo appealed the Supreme Court’s original decision that the share purchase agreement was ‘invalid’. This resulted in the transfer of the 40% stake to the unnamed claimants back in September.
Shares in Ferrexpo were up 0.9% at 115.70 pence each in London on Thursday morning.
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