Wednesday, January 13, 2010

50% plus two shares sold to Russian Investors by Ukraine’s ISD

The Interfax Ukraine News Agency has reported that a group of Russian investors who were directed by Russian businessman Alexander Katunin who is the owner of Swiss based metal trader Carbofer group and former co-owner of Russian mining and steel producer Evraz Group has bought 50% plus two shares of Ukraine’s lop-most steel companies- Industrial Union of Donbass.

Interfax Ukraine has informed us that these Russian led groups have bought this major amount with the remaining 49.99% still belonging to the two successful Ukrainian shareholders. Mr. Serhiy Taruta is a chairman of the board and Mr. Oleg Mkrtchan is the director general of Industrial Union of Donbass.

These shares bought by the new owners do not go beyond 25% thus the approval of the Ukrainian regulatory authorities is not necessary. This week the Financial Times newspaper valued the financial details of the deal at up to $2 billion but it has not yet been disclosed.

This deal between the ISD and the group of financial investors aims at developing competitiveness of the metallurgical advantages of the Ukrainian corporation in the world market, as given in the company’s statement.

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