Metinvest B.V. (the Netherlands), the parent company of the Metinvest international vertically integrated mining and metallurgical group, increased its share in PJSC Pivnichny mining and processing plant (Kryvy Rih, Dnipropetrovsk region)up to 100% from 96.8% in 2020.

According to the audited consolidated financial results for 2020, released on Tuesday, the section "Financial cash flow" states that the total amount of dividends paid in 2020 was $100 million, "while $50 million was used to acquire a non-controlling interest [3.2% of shares] in the Pivnichny Mining.

At the same time, the report does not specify from whom the shares were purchased. According to National Depository of Ukraine data for the fourth quarter of 2020, there were 2.2 billion ordinary registered shares, or 96.8336% of the authorized capital owned by Metinvest B.V.

At the end of 2019, Pivnichny Mining Plant, according to the annual report, reduced its net profit by 2.6% compared to 2018 - to UAH 8 billion, pre-tax profit by 3%, to UAH 9.6 billion. At the same time, net income increased by 9.1%, to UAH 28.5 billion. Retained earnings by the end of 2019 amounted to UAH 32.6 billion.

The plant specializes in the extraction, processing and production of iron ore raw materials. Pivnichny Mining Plant is part of the Metinvest group, the main shareholders of which are PJSC System Capital Management (SCM, Donetsk) (71.24%) and the Smart Holding group of companies (23.76%).

Metinvest Holding LLC is the managing company of Metinvest Group.

The authorized capital of Pivnichny Mining Plant is UAH 579.707 million, the par value of 1 share is UAH 0.25.