July 08, 2013. Metinvest B.V., the parent company of an international vertically integrated steel and mining group of companies (jointly referred to as “Metinvest” or “Metinvest Group”), today announced that as part of ongoing business restructuring, SCM Group, as envisaged in its agreement with SMART Group, transferred to Metinvest Group the following blocks of shares: 23.5% of shares in PJSC “CENTRAL IRON ORE ENRICHMENT WORKS” (“Central GOK”), 15.0% of shares in PJSC “NORTHERN IRON ORE ENRICHMENT WORKS” (“Northern GOK”), 26.0% of shares in PJSC “ZAPORIZHIA COKE PLANT” (“Zaporizhia Coke”) and 31.3% of shares in PJSC “DONETSK COKE PLANT” (“Donetsk Coke”). SMART Group transferred 3.1% of shares in PJSC “INGULETS IRON ORE ENRICHMENT WORKS” (“Ingulets GOK”).
As a result of the transfer, Metinvest Group consolidated 99.5% of the statutory capital of Central GOK, 78.3% of the statutory capital of Northern GOK, 85.6% of the statutory capital of Ingulets GOK, 51.0% of the statutory capital of Zaporizhia Coke and 69.9% of the statutory capital of Donetsk Coke.
The main goals of the share transfer - to fulfill the agreement between SCM Group and SMART Group regarding the consolidation of metals and mining assets, as well as to establish the targeted structure for Metinvest Group and improve business transparency and efficiency.
METINVEST GROUP is a vertically integrated steel and mining group of companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It comprises steel and mining production facilities located in Ukraine, Europe and the US, as well as a sales network covering all key global markets. The Group is structured into two operating divisions, Metallurgical and Mining, and its strategic vision is to become the leading vertically integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns above the industry benchmarks. For the 12 months ended 31 December 2012, the Group reported revenues of US$12.6 billion and an EBITDA margin of 16%.
The major shareholders of METINVEST B.V. (the holding company of Metinvest Group) are SCM Group (71.25%) and Smart-Holding (23.75%), which partner in the Company’s management.
METINVEST HOLDING LLC is the management company of Metinvest Group.