Iron ore pellet producer Ferrexpo Plc said on Friday a Ukrainian court has a put a restriction on the sale of 50.3% of its Swiss unit’s shareholding in Ferrexpo Poltava Mining, one of the company’s mining businesses.
The Swiss unit, Ferrexpo AG Switzerland, has appealed the court order, the London-listed company said, adding that it believes the temporary restriction is related to matters involving Chief Executive Officer Kostyantin Zhevago and the Bank Finance and Credit businesses he owned until 2015.
(Content and photos syndicated via Reuters)