The "Inside" expands ownership in Australia 27.01.2009 18:31
The "Inside", led by Igor Kolomoyskim, Gennady Bogoliubov and partners, gaining control of the Australian "Consolidated Minerals Ltd" (one of the world's leading producer of manganese ferro-alloys), decided to "close" to address its other Australian competitor - by "OM Holdings".
According to the contract, the end of 2008, the structure of the group "Privat" acquired approximately 12% of the shares of Australian producer of manganese "OM Holdings" (the second volume of production of manganese ores in Australia). In the near future, the proportion may be increased to 25%.
According to some estimates, the acquisition of "Consolidated Minerals" cost "Private" in 2007-2008 of approximately 1 billion dollars. Despite the global liquidity crisis, interest "Private" is quite clear: "OM Holdings" is a key supplier of ferroalloys to the markets of China and Southeast Asia. By combining the production facilities, a group of "Inside" could enter the world's leading metallurgical enterprises.
OMH Price at posting:
97.5¢ Sentiment: Buy Disclosure: Held
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