The Ukrainian Antimonopoly Committee (AMK) has granted its permission to Cyprus-registered Berycan, which is owned by Russian investment company MirInvest, for the purchase of more than a 50 percent stake in Cyprus-registered ISTIL Group Holding Limited.
ISTIL Group Holding Limited is the management company of Ukraine-based steel producer Mini Steel Mill ISTIL, of Odessa-based Metalsukraine Corp. Ltd., UAE-based ISTIL Middle East LLC, UK-based ISTIL, USA-based ISTIL Milton, Hong Kong-based MRHK and other related companies.
At the end of January, Berycan agreed to buy a 100 percent stake in ISTIL for an undisclosed amount. The transaction is expected to be completed in April 2008.
MirInvest represents the interests of Russian businessman Mr. Vadim Varshavsky.