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VTB Group announces sale of 20% Metalloinvest Holding Company stake

29 December 2012

© RIA Novosti, Ruslan Krivobok

VTB Group has sold its 20% stake in OJSS HC Metalloinvest, a leading manufacturer and supplier of iron ore and products with high added value.

USM Holdings structures purchased the shares, while VTB Capital, VTB Group’s investment business, acted as the transaction financial adviser. The sale of the 20% stake in Metalloinvest was part of the restructuring work to the direct investments’ portfolio.

Yuri Soloviev, First Deputy President and Chairman of VTB Bank’s Management Board, and Chairman of VTB Capital’s Board of Directors, said: "I believe that VTB Group’s investment in Metalloinvest had a positive impact on the company. The deal with USM Investments Limited was held in accordance with our previously voiced plans to sell shares to a strategic investor. Changes in the capital structure will allow Metalloinvest to continue strengthening its position on the international market."

Metalloinvest is a leading manufacturer and supplier of iron ore products and HBI in the global market. The company possesses the world largest iron ore fields under development.

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