OREANDA-NEWS. November 10, 2008. The procedure of buying out OAO Belovskaya Central Coal Preparation Plant and OAO Belovopogruztrans from minority shareholders is now completed. Thus, by mid-October OAO Belon has become the sole shareholder of both companies.

The buy-out was based on the provisions of the Federal Law ‘On Joint Stock Companies’. According to those, OAO Belon, which holds 95% of the placed shares of these companies, was entitled to buy out the remaining 5%.

The buy-out of these enterprises will allow the Company to become a 100% holder of the above assets, which, in its turn, will provide for better monitoring of the affiliates’ activities and improvement of the management system.

Purchase of 100% of the shares of the above enterprises was effected by the Company under Belon Group’s Development Strategy up to 2012. Improvement of the system of monitoring and management of all the companies incorporated in the Group will eventually facilitate the increase in the Group’s investment and financial appeal and strengthen its market position.