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Baturina's brother claims preemption right to buy Inteco

10:28 24/10/2011

MOSCOW, October 24 - RAPSI, Alyona Yegorova. A court will hear on November 22 a lawsuit filed by businessman Viktor Baturin against his sister Yelena Baturina, the Russia's richest woman, and her Inteco construction company, the court told the Russian Legal Information Agency (RAPSI) on Monday. Baturin claims the preemption right to purchase Inteco.

Baturin earlier told RAPSI he owned a 25 percent interest in the developer and had the preemption right to buy the company's stocks. The Moscow Commercial Court received Baturin's lawsuit on October 18.

Victor BaturinVictor Baturin

Baturin, as one of the Inteco's founders, earlier sought to cancel Inteco's sale to BinBank's owner Mikhail Shishkhanov and Sberbank Investments, a subsidiary of the Russian leading savings bank.

The Moscow Commercial Court shelved the lawsuit until November 7 as the claimant failed to attach a number of documents required by the court.
Inteco reported in early September it agreed with Shishkhanov and Sberbank Investments on the company's sale. On September 2 the parties signed the irrevocable offer for the acquisition of 100-percent stake in Inteco, Patriot and all their production and project facilities, the company's press-release reads. The parties were expected to complete the acquisition within a month.

RAPSI has yet to obtain comments from Inteco and Yelena Baturina.

Inteco is a diversified company and a leader of the Russian development market.

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Baturina's brother claims preemption right to buy Inteco

10:28 24/10/2011 A court will hear on November 22 a lawsuit filed by businessman Viktor Baturin against his sister Yelena Baturina, the Russia's richest woman, and her Inteco construction company.
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