The shareholding structure of Metalloinvest Holding changed, the company informed.
As a result of a number of transactions effected by Metalloinvest Group's companies and shareholders including VTB Group, Metalloinvest Ltd. (Metalloinvest's subsidiary) acquired 24% of the holding's shares. VTB Group withdrew from the shareholding structure selling its 19.9999% stake, while USM Holdings established control over 100% of the company's shares.
Metalloinvest Holding (tax number: 7705392230) is the fourth largest manufacturer of iron ore raw materials worldwide. The holding includes enterprises of Russia's mining and metallurgical industry: OJSC Mikhaylovskiy GOK, OJSC Lebedinskiy GOK, OJSC Oskolskiy Elektrometallurgicheskiy Kombinat (English: Oskol Elektrometallurgical Plant), OJSC Ural Steel.
The company is one the key steel manufacturers in the region accounting for about 9% of the total steel and steel products output in Russia.
Net profit (IFRS) of Metalloinvest for H1 2012 increased by 187.1% to $1.312 billion from $457 million. Consolidated revenue decreased by 7.6% to $4.458 billion from $4.825 billion, EBITDA by 13.1% to $1.642 billion from $1.89 billion, EBITDA margin to 36.8% from 39.2%.