Mining NewsUncategorized

Metinvest BV acquired majority of Pivnichny Mining shares

Ukraine based Pivnichny Mining produces iron ore and its not controlled by Metinvest.

Trosilia Holdings Limited, which was included in share capital of Metinvest B.V. in July 2014, has transferred its shares in public joint-stock company Pivnichny Mining, in the amount of 15.9679% of share capital, to the parent company Metinvest B. V.

Pivnichny Mining reported information about the transaction under the disclosure system of the National Commission for Securities and the Stock Market, referring to data received on March 17, 2016 from the National Depository of Ukraine that on March 15, 2016 Metinvest increased its stake from 1.865 billion shares to 2.235 billion.

Metinvest acquired shares on the secondary market.

Trosilia Holdings Limited’s stake in the company decreased from 15.9679% to nil.

Pivnichny Mining produces iron ore.

Source: Interfax

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