OREANDA-NEWS. December 29, 2011. VTB Group has acquired a 20% stake in Metalloinvest, a leading iron ore producer globally focused on high value-added products.

VTB Group's application has been ranked as the best one at the competitive process for the sale of 20% stake in Metalloinvest facilitated by LLC Deutsche Bank.

The transaction was carried out by VTB Capital in line with the company’s strategy of Private Equity business development and cooperation with private investors. VTB Capital, the Investment Business of VTB Group, has extensive experience in implementing similar projects and participation in similar landmark deals.

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: "We are optimistic about Metalloinvest global iron ore market prospects. Due to cost control and production growth, supported by diversified customer base, the company has shown steady growth of its key financial indicators. We hope that our participation will give a new investment impulse to further development of Metalloinvest."