The Russian steel producer Novolipetsk Steel (NLMK) has announced its intention to reapply to the Russian Federation's Federal Antimonopoly Service (FAS) for permission to acquire fellow Russian steelmaker Maxi-Group.
In its official release on the issue, the company stated that the FAS's refusal to grant NLMK permission to acquire Maxi-Group was caused by technical mistakes and lack of information in its initial request regarding its proposed acquisition of 50 percent plus one share of Maxi-Group.
NLMK said it will correct the technical mistakes in question and will resubmit its request to the FAS.