Metinvest deal to buy 24.99% of Pokrovskoye Mine Group is one of the largest on the Ukrainian market in the past years.
Metinvest paid $190 million for the stake.
According to Eavex Capital, the whole company is estimated at $0.9-1.1 billion, thus the stake has been purchased at a market price.
The mine group belonged to the oligarch Victor Nusenkis known for his pro-Russia attitude. Thus the enterprise left the control of pro-Kremlin oligarch. The deal did not affect Donetskstal or other Nusenkis’ assets.
Last year Metinvest lost assets on the uncontrolled territory, including the only coal producer in Ukraine – Krasnodonugol. So, the acquisition of a new coal enterprise on the controlled territory is a logical move for the company.
The mine group will cover 20% of Metinvest coking coal needs. (Ukrainian metal)
