Metinvest B.V. (the Netherlands), the parent company of Metinvest Group, has announced the acquisition of a dominant stake in PrJSC Dniprovsky Coke Chemical Plant (formerly Evraz-Dniprodzerzhynsk Coke and Chemical Plant, Kamianske, formerly Dniprodzerzhynsk, Dnipropetrovsk region) and intends to buy out the remaining shares from minority shareholders on the squeeze-out procedure.
According to the information of the plant, the issuer received a notification on October 21 from Metinvest B.V. company (the Netherlands) on the acquisition of a dominant controlling stake in the company.
At the same time, it is specified that the direct stake of Metinvest B.V. increased from 73.37% (500.623 million shares) to 97.01%. The aggregate ownership of shares in the plant by Metinvest (with the affiliated company Barlenco Ltd, Cyprus, which owns another 2.09% of the company’s shares), reached 99.1%.
The shares will be redeemed at a price of UAH 1.62 per ordinary share.
As reported, Metinvest B.V. in April 2019 announced an offer to buy out shares from the plant’s minority shareholders as part of the sell-out procedure (buyout at the request of a minority shareholder on the basis of Articles 68 and 69 of the law on joint-stock companies).