Arkley Capital Completed Transaction for Selling Its Zinc Assets
OREANDA-NEWS. October 1, 2009. ARKLEY CAPITAL S.a r.l., Luxembourg, has completed a transaction through which 100% of the shares in NF Holdings B. V., which controls 58% of the shares of Chelyabinsk Zinc Plant (RTS, MICEX, LSE: CHZN) – a leading Russian zinc producer – has been sold. The purchaser was a consortium of independent investors, including companies which are among the largest non-ferrous metal industry groups of companies – Ural Mining and Metallurgy Company and Russian Copper Company. The price of the transaction was not disclosed.
The funds from the transaction will be used for the strategic investment projects of the pipe division of the ChTPZ Group.
Sergei Moiseyev, the managing director of ARKLEY CAPITAL’s Moscow branch, noted the following on the closing of the transaction: “Since 2003 the shareholders of CZP have successfully conducted a policy directed at the development of the company and increasing its efficiency in accordance with a strategy implemented by the Board of Directors of the company which I led until July of this year and directed for building up production volumes and the company's complete independence in raw material supply. In the past six years we have implemented a large-scale investment program at the enterprise, investing 2.38 billion rubles in re-equipping the plant. Through acquiring new assets in
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