Metinvest finishes transactions for the purchase of OJSC Zaporizhstal

The next largest metallurgical enterprise, with the permission and approval of the antimonopoly committees of Bulgaria, Macedonia and the Republic of Serbia, is transferred to the full control of the Metinvest group.

According to the Commission for the Protection of Competition of the Republic of Bulgaria, the decision to provide the holding company Metinvest B.V. (Netherlands) Permissions to establish control of Zaporizhstal were adopted on May 10, 2012, Macedonia gave a similar permit on April 5, 2012, Serbia - December 16, 2011.

It is explained that the permission is issued by Metinvest B.V. for the acquisition of a number of Cyprus companies owning the shares of Zaporizhstali, - Brandfeld Finance Ltd., Vernan Services Ltd., Lasartico Holdings Ltd., Stransten Holdings Ltd., Royware Investments Ltd., Sitler Management Ltd. and barlenco ltd., which will lead to a concentration of more than 50% of the company's shares.

The industrial group, which owns more than 50% of the shares of the Zaporizhstal metallurgical plant, sold half of its shares to the Metinvest group for 416 million UAH in 2011. The remaining 50% of the shares of Metinvest have the right to redeem until August 4, 2012 - before this period, the option is valid for the acquisition of the remaining share in the company.





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