Zaporizhstal Authorized to Acquire Controlling Stake in Zaporizvognetryv

Yesterday Ukraine’s Antimonopoly Committee permitted Zaporizhstal (ZPST: U/R) to acquire a more than 50% stake in Zaporizvognetryv, a producer of metal flux. The acquisition will boost Zaporizhstal’s ownership in the company to 70%. According to the daily Kommersant, the deal is valued at USD 20-25 mln. Zaporizhstal, commenting on the deal, said the move was necessary to guarantee reduce supply risks and create a closed production cycle.