NLMK Group has sold 100% of its stake in NLMK Accounting Center to Fletcher Group Holdings Limited for a total of 23.9 million rubles.
NLMK Accounting Center will be used as a platform for setting up a single service company, NLMK Corporate Solutions Center, that will provide services to NLMK Group companies and Universal Cargo Logistics Holding (UCL Holding), an international transport group, including Freight One (PGK). This transaction will ensure a balance of interests of all the businesses serviced by the new center.
NLMK Corporate Solutions Center will offer support for corporate functions, including accounting and taxation management, HR document flow, treasury, and procurement processes.
The goal of setting up a single center for corporate solutions is to improve operational efficiency through standardization and optimization of supporting processes and control procedures, to introduce best practices, promote IT tools, and establish competence centers.
NLMK Corporate Solutions Center will be headed by Nelly Mescheryakova. She has held the position of NLMK Group’s Director for Corporate Finance until the end of 2018. (NLMK/Ukrainian metal)