Metinvest acquires US' United Coal

Various Ukrainian media sources reported this morning that Metinvest, the metals & mining wing of System Capital Management, acquired 100% of United Coal (US) in an all-cash deal. Sources interviewed by daily Kommersant put the price of the stake at USD 0.9-1.4 bln. The transaction is set to secure Metinvest’s need for coking coal. Metinvest first expressed an interest in United Coal in October 2008.