Metinvest targets official purchase of DMK

Monday, 15 February 2021 17:38:30 (GMT+3)   |   Istanbul
       

Ukraine’s Antimonopoly Committee has started the evaluation of the case filed by major Ukrainian steelmaker Metinvest BV regarding its target to purchase DMK, one of the key steel-producing assets in the country with a full production cycle.

DMK formally belongs to IUD holding. Moreover, the company is currently undergoing a bankruptcy process. Although Metinvest earlier denied that it controls the DMK asset and had stated it has no relation to the mentioned company, the raw materials supply and finished steel sales of DMK have been conducted through Metinvest structures, according to market sources.

At present, Metinvest is officially operating Azovstal, Illich SW, and Zaporizhstal, which account for over a 60 percent share of Ukraine’s markets of BPI and steel products. If the deal for DMK is approved, Metinvest will officially concentrate over 70 percent of steel production in the country, experts estimate.

 


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