VTB announces the sale of stake in Metalloinvest

VTB Group announces the sale of 20% stake in Metalloinvest Holding Company

VTB Group has sold its 20% stake in OJSS "HC "Metalloinvest", a leading manufacturer and supplier of iron ore and products with high added value.

The structures of USM Holdings purchased the shares, while VTB Capital, the Investment Business of VTB Group, acted as the transaction financial adviser. The selling of 20% stake in Metalloinvest was a part of the restructuring of the direct investments' portfolio.

Yuri Soloviev, First Deputy President and Chairman of the Management Board of VTB Bank, and Chairman of VTB Capital holding companies Board of Directors, said: "I believe that VTB Group's investment in Metalloinvest had a positive impact on the company. The deal with USM Investments Limited was held in accordance with our previously voiced plans to sell shares to a strategic investor. Changes in the capital structure will allow Metalloinvest to continue strengthening its position in the international markets."

Metalloinvest is a leading manufacturer and supplier of iron ore products and HBI in the global market. The company possesses the world largest iron ore fields under development.