UGMK has increased the share in Buribie GOK to 97%
Edited by Rhod Mackenzie / 2014-08-25 11:02:16
Metals and mining Russia Ural mining metallurgical company UGMK Russia Metals and Mining Copper Gold Silver
UGMK has increased its share in Buribie GOK to 96.95% from 10.82%. The Ministry of Land and Property Relations of Bashkortostan has left the shareholders list. It used to own 86.13% in the enterprise. The transaction was closed on August 21st.
The application of UGMK about purchase of 86.13% of the voting stocks in the entity was agreed by FAS of Russia in March 2014. The service stated that the share of the company at the Russian copper concentrate market exceeds 50%. In connection with that, FAS emphasizes that the permission will be valid only with the order about execution of the actions aimed at the provision of competition and avoiding of the monopoly activity at the copper concentrate market in the state.
