BXR Group may decide this year whether to sell Ferrexpo stake -co-owner

PRAGUE, April 4 Fri Apr 4, 2014 1:11pm EDT

PRAGUE, April 4 (Reuters) - Private investment firm BXR Group may decide by the end of the year whether to sell its stake in Ukraine-focused iron ore miner Ferrexpo, BXR's co-owner said.

Czech billionaire Zdenek Bakala, who owns half of Amsterdam-based BXR, is leaving the investment firm. He will take with him most of the assets which are focused on central Europe, while BXR while retain most of those outside the region.

However some holdings - including the 23.9 percent stake in London-listed Ferrexpo - will remain jointly owned because their fate has not yet been decided, and Bakala said they might be sold.

"We are not setting any hard deadlines. I suppose that by the end of the year is a reasonable time for us to determine clearly what the fate of these assets will be," he told Czech journalists in response to a question about Ferrexpo. (Reporting by Robert Muller; Editing by Pravin Char)

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