ENRC on the threshold of IPO consolidates the Russian assets

/INTERFAX, Moscow, June 14, 07/ - Netherlands' Eurasian Natural Resources Corporation Plc (ENRC), managing with assets of the same named Kazakhstan holding had given to Federal antimonopoly service (FAS) an application about purchasing of 95% voting shares of Serovskiy plant of ferroalloys OJSC. As is said in the materials of FAS, at the same time ENRC asks the permission on purchasing of stakes in companies, affiliated with the plant - chrome mine Rudnaya (61% shares) and Serovskiy plant of metal concentrate (51%). If FAS will permit ENRC all the listed deals, the group will directly and marginally control 88% of voting shares of mine and 100% - of plant. Actually, Serovskiy plant had entered the ENRC group (earlier - Eurasian industrial association, EIA) last spring, when EIA had purchased the company - shareholder of the organization. Serovskiy plant of ferroalloys is specialized on production of chrome containing alloys in particular high-carbon, low-carbon, middle-carbon ferrochrome, ferrosilicochrome and also ferrosilicum. In year 2006 plant had produced 261 th. 724 tons of ferroalloys, which is by 7.1% less than in year 2005. ENRC consolidated the assets of such companies as Kazchrome, Aluminum of Kazakhstan, Kazakhstan electrolysis plant, Zhayremskiy ore mining and processing combine, Sokolovsko-Sarbayskoye ore mining and processing production union, Euroasian energy corporation, and also ENRC Logistics and ENRC Marketing & Sales. To the government of Kazakhstan belong 24.8% shares of ENRC. Control shareholding, by data of Financial Times, belongs to three businessmen - Patokh Shodiyev, Alidzhan Ibragimov and Alexander Mashkevitch. As the sources of media informed earlier, ENRC prepares to hold IPO on London stock exchange in the second half-year. [2007-06-14]