OREANDA-NEWS. Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (jointly referred to as “Metinvest” or “the Group”), today announced that subsidiary MetalUkr Holding Limited (Cyprus), which is wholly owned by Metinvest B.V., has transferred 78.31% of Northern Iron Ore Enrichment Works (“Northern GOK”), 99.48% of Central Iron Ore Enrichment Works (“Central GOK”), 0.25% of Azovstal Iron and Steel Works (“Azovstal”) and 1.21% of Khartsyzk Pipe Plant (“Khartsyzk Pipe”) to Metinvest B.V. as part of the ongoing restructuring of its business.

As a result, Metinvest B.V. controls 78.31% of Northern GOK, 99.56% of Central GOK, 74.5% of Azovstal and 93.0% of Khartsyzk Pipe (in terms of charter capital). The transaction did not involve any cash and has not affected the Group's consolidated cash flow.

The shares were transferred to help the Group to reach its intended structure and improve its business transparency and management efficiency.