The Russian steel producer Novolipetsk Steel (NLMK) has announced the completion of the acquisition of a 3.02 percent stake in Russian iron ore producer Stoilensky GOK for Ruble 2.3 billion ($96.6 million), thus raising its stake in the company to 100 percent.
The buyout of Stoilensky GOK will allow NLMK to increase its efficiency as regards the management of the company.