17 November 2010 // Press centre Metinvest Group
Metinvest B.V. (the Netherlands) has obtained all the required approvals and permits from the Anti-Monopoly authorities to acquire control over Private JSC “Ilyich Stal” and Public JSC “Ilyich Iron And Steel Works Of Mariupol”, which gives Metinvest over 50% of votes in the supreme management bodies of the above mentioned companies.
Today Metinvest has closed the deal for acquisition of the legal title on the controlling stake in share capital and has become the Shareholder controlling Private JSC “Ilyich Stal” and Public JSC “Ilyich Iron And Steel Works Of Mariupol”.
Entering of Ilyich I&SW into Metinvest Group is an important step in implementation of the long-term strategy of the Group aimed at strengthening vertical integration and attainment of the maximum efficiency of the production capacities in Ukraine along with strengthening company’s market positions.
Metinvest is an international vertically integrated mining and steel group of companies. Production facilities of Metinvest produce enough steelmaking raw materials to meet its own demand and to be the key supplier to major steelmaking companies in Ukraine, Europe and Asia. The major shareholders of Metinvest are SCM Group (75% ownership) and Smart-Holding (25% ownership) partnering in Company’s management.
METINVEST HOLDING, LLC is the managing company of Metinvest Group.