OREANDA-NEWS. July 15, 2011. Metinvest B.V.(“the Company”), a parent company of the international vertically integrated steel and mining group of companies, today announced that it has entered the Industrial Group's mining and metals business, which involves, among other things, the management and ownership by the parties of more than 50% of JSC Zaporizhstal Integrated Iron & Steel Works’ shares.

To achieve the set goals, the Industrial Group is selling to the investors, including Metinvest, 50% of the Industrial Group's corresponding assets, The Industrial Group has also signed a cooperation agreement regarding the management of the joint business. In addition, Metinvest, among other investors, has been granted an option to purchase the remaining 50% stake in the Industrial Group's mining and metals business. The deal is being currently in process.