Goldenfrazil Ltd, a minority shareholder in Unipetrol
, said Tuesday it has filed a lawsuit in a Czech municipal court against Unipetrol
over the sale of its PVCs and chemical unit Spolana
to Anwil, allegedly at below market value. In late February Goldenfrazil, which holds a 3.6% stake in Unipetrol
, sent a letter to Unipetrol
's supervisory board claiming the board damaged Unipetrol
when it sold Spolana
640.2 mln in October, arguing it could have sold for CZK
1 bln, and demanding the board compensate minority shareholders by paying the difference between the two sums.
We expect the news to have a neutral impact in today’s trading.