NLMK acquires stakes in Maxi-Group subsidiaries

26 Jun 2009 07:00



26 June 2009  

NLMK acquires stakes in Maxi-Group subsidiaries 

NLMK is pleased to announce that on 25 June 2009 it acquired a batch of shares in Maxi-Group subsidiaries, including the stock of NSMMZ, Uralvtorchermet and UZPS. The auction was conducted to meet Maxi-Group obligations under previously taken loans.

As part of the auction, NLMK acquired: -32% of NSMMZ charter capital (320,000 shares); -100% of Uralvtorchermet charter capital (800,000 shares); -47.99% of UZPS charter capital (1,439,999 shares). 

The total value of the shares acquired reached RUR1.39 billion or USD44.5 million*. 

The acquisition of NSMMZ, Uralvtorchermet and UZPS shares will enable NLMK to more efficiently manage these subsidiaries.

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* Based on USD/RUR FX rate as at 25/06/2009.