NLMK buys 8.59 percent shares in KMAruda

Russian steelmaker Novolipetsk Steel (NLMK) has announced the completion of a tender offer for KMAruda ordinary shares on April 27. As a result, NLMK acquired 8.59 percent of ordinary shares, increasing its ownership in KMAruda to 84.85 percent. As reported earlier, NLMK offered to buy 23.74 percent of KMAruda's ordinary shares, aiming to acquire a 100 percent of stocks in the mining company.