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16.08.05. NEWS CONFERENCE IN INFOTAG: SHAREHOLDERS CALL ON GOVERNMENT TO PREVENT АО GEMENII’s TAKEOVER

16.08.05. NEWS CONFERENCE IN INFOTAG: SHAREHOLDERS CALL ON GOVERNMENT TO PREVENT АО GEMENII’s TAKEOVER

Holders of 58% of shares in АО Gemenii – one of the downtown supermarkets – have urged the government to prevent its privatization by Ukrainian shareholders controlling a 36% stake.

Lawyer of the Moldovan shareholders Iacob Rotaru told a news conference in Infotag Tuesday that Ukrainian counterparts, including Chairman of the Ukrainian Security Council Petr Poroshenko, have tried to take over the supermarket in bypass of the law.

“Although their claims were duly dismissed by the court the Ukrainian shareholders are now trying to complete the privatization (of the supermarket) using some of the local officials. In return Poroshenko has promised to assist Moldova resolve the Transnistrian crisis,” said the lawyer.

Following that, - he added, - the case has been referred back to court for further deliberation pending which the supermarket building has been rented to the company Raut.

Gemenii shareholders have appealed to the parliament to set up an investigation commission to resolve the issue that has been dragging on since 2000.

The supermarket has been valued at $10 mln; in 2004 its tax contribution reached 7 mln lei.

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