Ferrexpo increases its stake in Poltava Iron Ore to 87.8%
21 July 2008
Ferrexpo plc (FXPO LN: HOLD) said on Friday it has increased its stake in Poltava Iron Ore (PGOK: HOLD) from 85.9% to 87.8%, mainly through buying additional shares from DСM DECOmetal International Trading, whose stake dropped from 10.6% to 8.7%. In March, Ferrexpo CEO Mike Oppenheimer said the company will buy out the rest of DСM’s shares and will increase its stake in Poltava Iron Ore to 96-97%.
