The Russian steelmaker Novolipetsk Steel (NLMK) has announced the completion of its buyout of minority shareholders in three of its Russian subsidiaries, namely Dolomit, Altai-Koks and Stagdok. As a result of the buyout, NLMK now holds 100 percent stakes in these companies.
In the framework of the buyouts, NLMK bought a 2.0205 percent stake in Dolomit for a total price of Ruble 22,834,239.78 ($979,117.1736); a 2.5629 percent stake in Stagdok for Ruble 28,137,684.52 ($1,206,525.394); and a 1.5646 percent stake in Altai-Koks for a total consideration of Ruble 234,075,684.52 ($10,036,995.102).
Having increased its stake in the companies in question, NLMK will be able to manage them more effectively.