Cyprus-based Barlenco Ltd., affiliated with the largest Ukrainian mining and metallurgical group Metinvest, in accordance with the law on joint stock companies has confirmed its intention to exercise the right to compulsory redemption of shares (squeeze-out) from minority shareholders of PrJSC Dniprovsky Coke Chemical Plant (formerly Evraz-Dniprodzerzhynsk Coke and Chemical Plant, Kamianske, formerly Dniprodzerzhynsk, Dnipropetrovsk region)
According to the official data of the plant in the information disclosure system of the National Securities and the Stock Market Commission, Dniprovsky Coke Chemical Plant received a notification from the shareholders on November 18 of this year.
As reported, PrJSC Dniprovsky Coke Chemical Plant received a notification from Metinvest B.V. on the achievement of a dominant controlling stake in the enterprise on October 21 of this year. Then it was clarified that the direct share of Metinvest B.V. increased from 73.37% (500.623 million shares) to 97.01%. At the same time, the aggregate ownership of shares in Dniprovsky Coke Chemical Plant by Metinvest (with the affiliated company Barlenco Ltd (Cyprus), which owns another 2.09% of the company’s shares) reached 99.1%. price of UAH 1.62 per ordinary share.
As reported, Metinvest B.V. in April 2019 announced a proposal to buy back shares from minority shareholders of Dniprovsky Coke Chemical Plant as part of the sell-out procedure (buyback at the request of the minority shareholder based on Articles 68 and 69 of the law on joint stock companies).Metinvest B.V. in mid-March 2020, announced the completion of the transaction to acquire a stake in PrJSC Dniprovsky Coke Chemical Plant and currently owns about 73% of the company’s shares. Back in 2014, Metinvest Group sent an application to the Antimonopoly Committee of Ukraine to acquire a controlling stake in Dniprovsky Coke Chemical Plant. About a year ago, the AMCU approved this deal subject to a number of restrictions. Prior to this, Metinvest received a number of permits from the antimonopoly authorities of other countries to acquire this enterprise.
The charter capital of the plant is UAH 170.584 million.
Metinvest B.V. (the Netherlands), the parent company of Metinvest Group, has completed the acquisition of a stake in PrJSC Dniprovsky Coke and Chemical Plant (formerly Evraz-Dniprodzerzhynsk Coke and Chemical Plant, Dnipropetrovsk region) and currently owns about 73% of the shares of the enterprise.
“In 2014, Metinvest Group sent an application to the Antimonopoly Committee of Ukraine (AMC) for the acquisition of a controlling stake in Dniprodzerzhynsk Coke and Chemical Plant. About a year ago, the AMC approved this deal subject to a number of restrictions. Currently, Metinvest has become the owner of approximately 73% of the shares in the plant,” the company’s press service told Interfax-Ukraine.
As reported, the Antimonopoly Committee of Ukraine allowed Metinvest B.V. to establish control over the plant in connection with plans to commission new coke and chemical facilities at other plants and additional obligations of the group.
Prior to this, Metinvest received a number of permits from the antitrust authorities of other countries to acquire this enterprise, however, the transaction was not officially announced, the transfer of the plant to the group was not confirmed.
According to the National Depository of Ukraine, in the fourth quarter of 2019 Misandaiko Holdings Ltd. and Mastinto Trading Ltd. (both Cyprus) owned 23.6384% of the charter capital each, Metinvest B.V. (the Netherlands) held some 47.28%.
The charter capital of the plant is UAH 170.584 million.
