The Russian coal mining company Belon Group (Belon) has announced its completion of the acquisition of outstanding shares in Belovskaya Central Coal Preparation Plant and in the railway transportation company Belovopogruztrans from minority shareholders.
The buyout was based on federal law provisions, according to which Belon, due to its 95 percent of placed shares in the companies in question, was entitled to purchase the remaining five percent.
The acquisition, which makes Belon the sole shareholder of both companies, will enable it to improve its system of monitoring and its management of all subsidiaries, which will eventually facilitate the strengthening of Belon's market position.