18th Sep 2015 06:37
LONDON (Alliance News) - Iron ore pellets producer Ferrexpo PLC on Friday said its transactional bank in Ukraine has been declared insolvent.
Ferrexpo said Bank F&C had been declared insolvent by its largest shareholder, Kostyantin Zhevago.
The company said it will update the market where necessary on the situation at the bank but said its operations have not been affected so far. It currently has around USD174.0 million of its total USD280.0 million cash balance held at Bank F&C.
By Sam Unsted; [email protected]; @SamUAtAlliance
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