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Chelyabinsk Tube Rolling Plant will pay off the dissidents.
Having completed the multi-billion-dollar debt restructuring, the Chelyabinsk Tube Rolling Plant had to spend an additional impressive amount of money on the reacquisition of shares from their minority shareholders which disagreed over the terms of the transaction. These shareholders made up a little less than 1% and the company will spend more than 193 million rubles to buy out their securities.
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The fact that the minority shareholders presented their stocks for reacqusition at the price set by the company shows that they agree on the offered estimate of 44.9 rubles per share. If the minority shareholders should not agree with the shares estimated value, then, pursuant to the law “On the valuation activity”, the report of an independent valuator can be disputed, says Ivan Korolyov with the Art de Lex law firm. “The minority shareholder should provide the court with the evidence of unreliability of the valuation report or of the conclusions about the value of these shares”, the lawyer explains. According to him, the majority shareholders’ interests are not affected in such cases.