Court Restricts Transfer of Ownership for Ferrexpo’s Ukrainian Subsidiaries Amid Legal Proceedings

Ferrexpo, a leading iron ore pellet producer, disclosed that a court ruling has barred the transfer of ownership and other related corporate rights of its subsidiaries in Ukraine. The London-listed company clarified that these restrictions are part of an ongoing legal battle against Kostyantin Zhevago, the Ukrainian billionaire and Ferrexpo’s largest shareholder, pertaining to Bank Finance & Credit, and are unrelated to the Ferrexpo Group. Zhevago’s legal challenges coincide with Ukraine’s anti-corruption efforts, crucial for its aspirations to join the European Union, amidst the backdrop of Russia’s invasion.