18:00 18.11.2020

Metinvest with affiliated companies becomes 100% owner of Zaporizhvohnetryv

1 min read
Metinvest with affiliated companies becomes 100% owner of Zaporizhvohnetryv

Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, together with its affiliated structures became the owner of 100% of the shares of PrJSC Zaporizhvohnetryv, the largest refractory products manufacturing company in Ukraine, as a result of a squeeze-out procedure.

"Indeed, Metinvest Group, together with Zaporizhstal and another company, became the owner of 100% of the shares," the press service of the group told Interfax-Ukraine.

As reported, Cyprus-based Barlenco Ltd., affiliated with Metinvest Group, in August this year sent irrevocable offers to the minority shareholders of Zaporizhvohnetryv for compulsory redemption of shares (squeeze-out) at a price of UAH 20 per each with their par value being UAH 13.

At the same time, according to Zaporizhvohnetryv data as of November 17, 2020, the stake of Barlenco Ltd. increased from 0.413379% to 5.404338%.

Earlier it was reported that Metinvest had increased its stake in Zaporizhvohnetryv to 50.79%

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