In December 2014 the supervisory board of ArcelorMittal Kriviy Rih sanctioned two volume-identical contracts with ArcelorMittal International Luxembourg SA. Each presupposed the sale of 1.2 million tons of metal products worth 600 million UAH. Thus the total cost of the deal reached 1.2 billion UAH.
On August 31, the Economic court of the Dniepropetrovsk region entertained an action to AMKR, filed by a holder of 72016 shares (0.0019%).
According to the plaintiff, such a large deal had to be conformed by the shareholders, and not by the supervisory board.
But the judge rejected the claim. (Ukrainian metal)