print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  Novolipetsk Steel REGISTER LOG IN

Press Releases > Novolipetsk Steel  all about the company

company search
all press releases
all Novolipetsk Steel press releases

Novolipetsk Steel

February 18, 2008

NLMK to modify terms of agreement with Duferco

Novolipetsk Steel (LSE: NLMK), the leading Russian steel producer, announced today that it has agreed to modify the terms of its agreement with Duferco Group (“Duferco”) established in December 2006 in connection with the acquisition of a 50% interest in Steel Invest & Finance S.A. (Luxembourg) (“SIF”), a holding company for the Joint Venture between NLMK and Duferco (“Original Transaction”).

The principal terms of the new agreement are as follows:

• NLMK has a perpetual option to acquire one share of SIF at the per share price of the Original Transaction and thus raise its participation in SIF to a controlling stake;

• Effective from 18 December 2010, NLMK will have a perpetual option to buy, and Duferco will have a perpetual option to sell, all of Duferco’s interest in SIF at a price based on the change in the consolidated shareholders equity of SIF between October 2006 and the exercise date.

The option agreement is in line with NLMK’s strategy to better control strategic assets in its portfolio. While NLMK has no current intention to increase its stake in the JV from the present 50%, the company will be reviewing its alternatives with regard to the exercise of the options as the Joint Venture matures and its synergies with the Russian production assets materialize.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer