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Ukrainian Government Invalidates 'Winning' Bid for Fertilizer Plant

9:29 AM MDT | September 29, 2009 | Natasha Alperowicz

The Ukrainian government invalidated a winning 5-billion hryvnias ($624 million) bid for the Odessa Port Plant (OPP; Odessa, Ukraine) shortly after auctioning the complex live on television. The government, which said it wanted to sell the complex and set a minimum price of 4 billion hryvnias, cited a bidders' plot to bring the purchase price down. Nortima, a little-known company controlled by Ukrainian oligarch Ihor Kolomoyski, was the declared winner of the auction before the government invalidated the bid. The other two bidders were Azot Seris, a unit of Sibur...

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