IUD in a press release said that the new partners had helped the company to strengthen its position on the global market.
The press release said “The IUD and a group of financial investors and investors from the mining and metal industry state that they have reached an agreement to combine efforts to develop the competitiveness of the metallurgical assets of the Ukrainian corporation on the global market.”
It said “According to their agreements, the new partners led by Mr. Alexander Katunin, owner of the international steel and iron products trader Carbofer Group SA as well as logistic and production companies, have bought a 50% plus two stocks package in the IUD. 49.99% share still belongs to Mr. Serhiy Taruta and Mr. Oleh Mkrtchan.”
IUD, founded in 1995, is an integrated holding company that owns or manages stakes in mining and metals enterprises. The group’s core assets are the Alchevsk Iron & Steel Works (AMK), Alchevsk Coke-Chemical Plant and Dzerzhynsk Iron & Steel Works (DMK) in Ukraine, as well as Dunaferr in Hungary and ISD-Huta Czestochowa in Poland.
Carbofer General Trading SA is a private company established in Luxembourg in 2004. The company trades steel, coal, pig iron, iron ore and scrap. In 2007, Carbofer General Trading purchased Evraz Metall. The company’s sales volumes amounted to 9.7 million tons, bringing the company $ 3 million of revenues in 2008.
Investment company Troika Dialog acted as financial adviser in the deal. (Kyivpost)
Interfax Ukraine reported that Mr. Alexander Katunin, the owner of Swiss metal trader Carbofer Group and the former co-owner of Russia’s Evraz Group, together with a group of financial investors and with the participation of Russia’s Vnesheconombank, had purchased a controlling interest in Donetsk-based Industrial Union of Donbas (IUD) Corporation.