Court unblocks SG-Trans privatization, cancels interim measures under Rosneft lawsuit
MOSCOW. Oct 31 (Interfax) - The Moscow Court of Arbitration has canceled the interim measures it had imposed in the lawsuit filed by Rosneft subsidiary structure RN-Trans, which was disputing the legality of the privatization procedure for OJSC SG-Trans.
According to the court's materials, it rendered its ruling to cancel the interim measures on Tuesday.
AFK Sistema won the tender for 100% of SG-Trans on September 27, offering 22.7 billion rubles for the asset. However, Rosneft disagreed with the results of the tender. Its structure RN-Trans filed a lawsuit against the organizer of the tender - LLC Renaissance Broker - at the Moscow Court of Arbitration, demanding that the restrictions on its participation in the privatization be declared illegal. The initial hearing was scheduled for October 31.
Meanwhile, on October 24 the court satisfied RN-Trans' motion to impose interim measures on the privatization process for SG-Trans, prohibiting Renaissance Broker from performing further procedures to sell the railway operator's stock.