Court holds against businessman Baturin in preemption right claim to buy Inteco
- Court drops Baturin's suit against Inteco
- Court to hear Baturin's claim for preemptive right in Inteco sale on Dec. 16
- Inteco's appeal against Federal bailiffs' service to be heard on December 1
- Inteco appeals fine for denial of information on its founder's income
- Baturina's brother claims preemption right to buy Inteco
MOSCOW, December 16 - RAPSI, Sergei Feklyunin. A court has held against businessman Viktor Baturin in his lawsuit against Inteco construction company and his sister Yelena Baturina, the Russia's richest woman and former Inteco owner, the Russian Legal Information Agency (RAPSI /rapsinews.com) reported.
Baturin claimed the preemption right to purchase Inteco.
Inteco reported in early September it agreed with BinBank's owner Mikhail Shishkhanov and Sberbank Investments on the company sale. The transaction was closed on December 7. Shishkhanov acquired a 95-percent stake in Inteco, while Sberbank Investments purchased the remaining 5-percent. The transaction amount was not specified, but according to media reports, it was significantly reduced from initial $1.2 billion after Baturina partly paid Inteco's debt. Baturina sold the 100-percent stake in Inteco, Patriot and all their production and project facilities.
Inteco is a diversified company and Russia's development market leader.