The business court of Dnipropetrovsk region has satisfied a claim of Ukraine's State Property Fund (SPF) seeking to terminate the sale and purchase agreement for the shares in OJSC Dniproavia and return them to the state.

The press service of Prosecutor General's Office in Dnipropetrovsk region reported that in August 2009 the SPF and a limited liability company signed an agreement on the sale and purchase of almost 112 million shares in OJSC Dniproavia or over 94.5% of the share capital with a face value of almost UAH 28 million.

"However, the limited liability company failed to fulfill the provisions of the agreement and the post-privatization concept related to the transfer of the artificial runway, a radio-beacon landing system and land parcels where they are located to the state to create a state-run enterprise on their basis. The company also did not pay investment of UAH 739 million. Prosecutor General's Office in Dnipropetrovsk region entered the case to protect the interests of the state," the press service said.

The court decided to terminate the sale and purchase agreement and return the shares to the state.