OREANDA-NEWS. On August 11, 2008 The decision was made within the framework of the SCM Group development strategy, which is based on the principle of effective investing, reported the press-centre of SCM.

According to SCM Group development strategy SCM shall act as a strategic investor, whose objective is to encourage the growth and development of the Group assets in the long-term perspective as well as to expand its presence in the industries interesting for the Group. At the moment the long-term investments of the Group are focused on metals and mining, energy, financial business, real estate as well as telecommunications and media.

In his comments on the decision Oleg Popov, the CEO of SCM, said: "This investment was financial rather than strategic for the SCM Group. Being a minority shareholder of these two companies we did not have a significant influence either on their management decisions or the economic activity.

Considering that transportation business is not amid SCM priority investment areas and integration of these two companies into the existing vertically integrated chains of Metinvest and DTEK is not feasible  we considered the possibility to sell our shares in these two companies. So we got a reasoned proposal and accepted it.

The parties agreed not to reveal details of the deal including information about the buyer.