Russia's Federal Antimonopoly Service granted the application of Effective Energy N.V. (the Netherlands, a subsidiary of OJSC Atomredmetzoloto) for buying 59.51% of the authorized capital of Uranium One Inc, the regulatory body informed.
It will be recalled that on March 7, 2013, the shareholders of Uranium One approved the agreement for OJSC Atomredmetzoloto (ARMZ) to consolidate 100% of the company's authorized capital.
Uranium One Inc. is one of the world's largest uranium producers listed on the Toronto and Johannesburg stock exchanges, with a diversified portfolio of assets in Kazakhstan, the USA, Australia and Tanzania. The uranium holding ARMZ owns 51.42% in Uranium One Inc.
OJSC Atomredmetzoloto (ARMZ, tax number: 7706016076) is one of the global uranium mining leaders, one of the five biggest uranium miners in terms of the output, ranking second in the uranium raw-material base. The holding is a principal supplier of uranium raw for Russia's power sector which produced 4.624 thousand tonnes of uranium in 2009 at its enterprises in Russia and Kazakhstan. Atomredmetzoloto's shareholders are OJSC Atomenergoprom (16,201,544,808 shares, 79.98%) and OJSC TVEL (4,055,695,153 shares, 20.02%). In 2010, the holding produced 5.174 thousand tonnes of uranium at enterprises in Russia and Kazakhstan. In 2010, ARMZ consolidated a controlling block of shares of the Canadian uranium extracting company Uranium One.
Net profit (IFRS) of ARMZ for 2011 decreased 4.1-fold to RUB 3.2 billion from RUB 13.104 billion for 2010. Revenue increased by 47.2% to RUB 44.5 billion from RUB 30.2 billion, EBITDA grew by 6% to RUB 11.9 billion from RUB 11.25 billion. Net asset value increased by 17.9% to RUB 147.6 billion from RUB 125.2 billion in 2010.