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

January 16, 2009

Novolipetsk Steel completes the disposal of its stake in Tuapse Seaport

Further to the announcement made on December 9, 2008, NLMK has completed the disposal of its 69.41% share in OJSC Tuapse Seaport (TMTP) to Universal Cargo Logistics Holding B.V. (UCLH).

The transaction values NLMK’s stake at RUR 7,105,155,057 (about USD254 million), or RUR 1.17 per TMTP ordinary share.

Cash generated from the disposal of NLMK’s TMTP stake will be used to repay short-term debt and help fund the company’s current investment projects.

The agreement with NLMK envisages that Universal Cargo Logistics Holding B.V. will make an offer to NLMK minority shareholders to acquire TMTP shares at RUR 1.17 per share on a pro rata basis in accordance with their NLMK shareholding as of the date when Universal Cargo Logistics Holding B.V. acquires NLMK stake in TMTP.  This proposal will enable NLMK shareholders to maintain their interest in Tuapse Seaport (TMTP) through UCLH.

Universal Cargo Logistics Holding B.V. also intends to offer to buy TMTP shares from TMTP private minority shareholders at RUR 1.17 per share.

 

 

 

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