OREANDA-NEWS. SCM has completed sale of 29.95% shares in Kuibyshev Metal Plant located in Kramatorsk.

We decided to sell the shareholding since opportunities to integrate the enterprise in the existing industrial (mining and metal) holding of SCM Group are limited, while synergy effect of this integration is not evident. Having received an economically sound offer to buy the share of SCM in charter fund of the plant and analyzed it, SCM decided to cease its membership as a shareholder of the enterprise.

After the shares of the plant are sold, SCM will not possess any shareholding of this enterprise nor will be involved in its governance.