09.04.2008, 13:58
DTEK Obtained Shares of Oktyabrskaya and Dobropolskaya Coal Plants
OREANDA-NEWS. On April 07, 2008 within the framework of SCM Group’s business restructuring the shares in Oktyabrskaya CEP and Dobropolskaya CEP totalling 16,25% and 10,62% respectively, owned by Metinvest Holding (manages the mining and metal business of SCM), have been transferred to Donbass Fuel-Energy Company (DTEK), which manages the fuel and energy assets of the SCM Group. Previously, the 27,45% and 40,44% shareholding of the plants respectively had been transferred to DTEK, reported the press-centre of SCM.
As a result, DTEK has accumulated 60,85% of the authorized capital of Oktyabrskaya CEP and 60,06% of Dobropolskaya CEP.
‘Changes in the structure of the Group’s business envisage the by-stage transfer of the ownership and management rights of the incorporated enterprises to the relevant branch holdings’, said Oleg Popov, the CEO of SCM. ‘The aim of transferring the corporate rights to some companies within SCM is to improve the Group’s business efficiency, transparency, and integrity for investors, partners, and employees of the enterprises’.
Earlier, DTEK’s representatives were introduced to the Supervisory Boards of the plants to study the feasibility of the transfer. After the decision on the efficiency to transfer the rights to manage SCM’s shares in these enterprises from Metinvest to DTEK had been made, the transaction was executed.
The Supervisory Board of Dobropolskaya CEP comprises Andrey Fedorov, Principal Specialist of the Operations and Analysis Unit (Coal Enrichment) of the Coal Production and Enrichment Division of DTEK – the Chairman; Evgeniy Romaschin, Coal Production and Enrichment Director of DTEK, and Oleg Simchenko, Deputy CFO of DTEK.
The Supervisory Board of Oktyabrskaya CEP includes Andrey Fedorov, Principal Specialist of the Operations and Analysis Unit (Coal Enrichment) of the Coal Production and Enrichment Division of DTEK – the Chairman; Evgeniy Romaschin, Coal Production and Enrichment Director of DTEK, and Lidiya Magera, Head of the Investment Department of the Finance Division of DTEK.
‘The coal production and enrichment links in the chain of DTEK are the basis for the vertically integrated business of the Company. A special emphasis is laid on these branches in the development strategy of our holding, that’s why we are interested in concentrating the shares in the CEPs previously owned by Metinvest. We’ve already applied to the Anti-Monopoly Committee of Ukraine asking to permit the concentration of more than 50% shares in the authorized capital of these enterprises and got the relevant permission of the Committee. The enrichment plants will be smoothly integrated in the production chain of DTEK, which will greatly optimize the current processes’, said the CEO of DTEK, Maxim Timchenko.
Information on the company:
Donbass Fuel-Energy Company (DTEK) is the first private vertically-integrated energy company in Ukraine, incorporating coal-mining (Pavlogradugol, Komsomolets Donbassa Mine), generation (Vostokenergo) and electricity supply (PES-Energougol, Service-Invest Ltd.) enterprises.
As a result, DTEK has accumulated 60,85% of the authorized capital of Oktyabrskaya CEP and 60,06% of Dobropolskaya CEP.
‘Changes in the structure of the Group’s business envisage the by-stage transfer of the ownership and management rights of the incorporated enterprises to the relevant branch holdings’, said Oleg Popov, the CEO of SCM. ‘The aim of transferring the corporate rights to some companies within SCM is to improve the Group’s business efficiency, transparency, and integrity for investors, partners, and employees of the enterprises’.
Earlier, DTEK’s representatives were introduced to the Supervisory Boards of the plants to study the feasibility of the transfer. After the decision on the efficiency to transfer the rights to manage SCM’s shares in these enterprises from Metinvest to DTEK had been made, the transaction was executed.
The Supervisory Board of Dobropolskaya CEP comprises Andrey Fedorov, Principal Specialist of the Operations and Analysis Unit (Coal Enrichment) of the Coal Production and Enrichment Division of DTEK – the Chairman; Evgeniy Romaschin, Coal Production and Enrichment Director of DTEK, and Oleg Simchenko, Deputy CFO of DTEK.
The Supervisory Board of Oktyabrskaya CEP includes Andrey Fedorov, Principal Specialist of the Operations and Analysis Unit (Coal Enrichment) of the Coal Production and Enrichment Division of DTEK – the Chairman; Evgeniy Romaschin, Coal Production and Enrichment Director of DTEK, and Lidiya Magera, Head of the Investment Department of the Finance Division of DTEK.
‘The coal production and enrichment links in the chain of DTEK are the basis for the vertically integrated business of the Company. A special emphasis is laid on these branches in the development strategy of our holding, that’s why we are interested in concentrating the shares in the CEPs previously owned by Metinvest. We’ve already applied to the Anti-Monopoly Committee of Ukraine asking to permit the concentration of more than 50% shares in the authorized capital of these enterprises and got the relevant permission of the Committee. The enrichment plants will be smoothly integrated in the production chain of DTEK, which will greatly optimize the current processes’, said the CEO of DTEK, Maxim Timchenko.
Information on the company:
Donbass Fuel-Energy Company (DTEK) is the first private vertically-integrated energy company in Ukraine, incorporating coal-mining (Pavlogradugol, Komsomolets Donbassa Mine), generation (Vostokenergo) and electricity supply (PES-Energougol, Service-Invest Ltd.) enterprises.
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