Metinvest continues restructuring
Metinvest BV, the parent company of an international vertically integrated mining and steel group of companies, announced, as part of the ongoing restructuring, the Agreement between SCM and SMART, SCM Group transferred to Metinvest Group 23.5% stake in PJSC Tsentralnyi Mining and Processing Plant (Tsentralnyi GZK), 15.0% of PJSC Pivnichnyi Mining and Processing Plant (Pivnichnyi GZK), 26.0% of the shares of PJSC Zaporizhkoks (Zaporizhkoks) and 31.3% of the shares of PJSC Donetskkoks (Donetskkoks). SMART Group also transferred to Metinvest 3.1% stake in PJSC "Inguletskiy Mining and Processing Plant" ("Inguletskiy GZK ").
As a result, Metinvest Group consolidated 99.5% of the share capital of the Tsentralnyi GZK, 78.3% of Pivnichnyi GZK’s share capital, 85.6% of Ingulets GZK’s share capital, 51.0% of Zaporizhkoks’s share capital and 69.9% of Donetskkoks’s share capital.
Share transfer’s main purpose is fulfillment of the agreement between SCM Group and SMART Group on consolidation of their mining and metallurgical assets, and creation of the target structure of Metinvest Group and increased transparency and efficiency of business.
