Barlenco Ltd. (Cyprus), affiliated with Metinvest, intends to use its right to squeeze out shares of Zaporozhogneupor minority holders.
On July 6, Zaporozhogneupor received a notification from shareholders on reaching the dominating controlling shares on July 3.
Prior to this, Metinvest B. V. owned 2,650,697 shares, or 45.385539% of the total, Zaporizhstal – 2,874,068 shares (49.210123%), while the Cyprus company did not have any shares. Later the company became the owner of 24,143 shares (0.413379%).
Now, directly or indirectly Metinvest owns 95.009040% of Zaporozhogneupor shares. (Ukrainian metal)