The Ukrainian steel producer Metinvest Holding (Metinvest) has announced the receipt of permission from Ukraine's Antimonopoly Committee allowing the company to concentrate in its hands more than 50 percent of Ukrainian steel producer Makeevsk Iron and Steel Works (Makeevka).
After receiving all necessary permissions from the European Union, Metinvest will own a 90 percent stake in Makeevka.
The transfer of a majority stake in Makeevka from Netherlands-registered Smart-Group to Metinvest is expected to be completed in the first quarter of 2008.