OREANDA-NEWS. June 22, 2007. Novolipetsk Steel, NLMK (LSE: NLMK), a leading Russian steel producer, today announced the transfer of ownership of its 100% interest in DanSteel A/S to NLMK International BV. NLMK International BV is a 100% owned NLMK subsidiary registered in the Netherlands. 

NLMK International BV was established in 2006 within the framework of the “Sustainable growth strategy 2007 – 2011”.  A key element of the strategy is the acquisition of high quality rolling assets in core markets. NLMK International BV will play the role of the investment vehicle for future acquisitions of foreign assets by NLMK Group. The ownership of the 50% interest in NLMK – Duferco Group JV will also be transferred to NLMK International BV in the near future.

The establishment of NLMK International BV advances several important objectives of the company’s M&A policy. In particular, it enables to NLMK to optimize the ownership and management structure of foreign assets. An additional factor in favor of establishing NLMK International BV is the necessity of consolidating financial flows for future international acquisitions.