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Ministry wants to extend its veto power on Transpetrol stake sale

The Economy Ministry wants to prolong its right to veto any possible sale of a 49 percent stake in the Slovak crude oil pipeline company Transpetrol.

According to transaction documents signed when shares of the company were sold to Yukos, Slovakia has the right to block the sale of these shares until April this year.

The Dutch subsidiary of the bankrupt Russian oil major Yukos, Yukos Finance B.V., very probably still owns the minority stake in the company.

Slovak Economy Minister Ľubomír Jahnátek, however, said after a cabinet meeting on March 14 that the case will last longer, and therefore they want a commercial court to issue a preliminary injunction prolonging the veto power until the time when these shares are lawfully transferred to a new commercial entity.

The minister specified that their legal experts are preparing to file the corresponding request in court.

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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