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VTB acquired 20 % of the largest iron ore producer
28.12.2011 09:36
VTB acquired 20 % of the largest iron ore producer

The state bank VTB has acquired 20 % shares of the holding Metalloinvest from the businessman Vasiliy Anisimov and has become a partner of the Russian oligarch Alisher Usmanov.

The auction on selling Metalloinvest shares, organized by Deutsche Bank was held on December 22.

Initially 20 companies were going to take part in the tender. According to some sources, VTB will get Metalloinvest shares as payment for the loan, taken by Vasiliy Anisimov’s company Coalco Metals in 2008. The deal will be closed in the first quarter 2012.

Vasiliy Anisimov claimed about his intention to sell his share in Metalloinvest in 2010, explaining it by the desire to spend more time with his family.

METALLOINVEST is one of the largest iron ore and HBI producers and suppliers globally and the leading regional iron ore producer. METALLOINVEST comprises of leading iron ore production facilities in Russia – Lebedinsky GOK and Mikhailovsky GOK; steel mills – Oskol Elektrometallurgical Plant and Ural Steel; a ferrous scrap enterprise – Ural Scrap Company; and a rolling steel mill in the UAE, says the official site of Metalloinvest.

Author: Irina Fomina

Tags: Alisher Usmanov business    

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