Antimonopoly committee allows large metal trader Optimal Trade to acquire DMK of ISD Corporation

The Antimonopoly Committee of Ukraine has allowed a large metals and metal ore trading company Optimal Trade LLC to acquire an integral property complex of PJSC Dniprovsky Metallurgical Plant (DMK, Kamianske, Dnipropetrovsk region), which is part of the Industrial Union of Donbas corporation (ISD).

The decision was made by the committee at its meeting on January 28 of this year, the committee said on Friday.

Earlier, the shareholders of PJSC Donetsksteel Iron and Steel Works transferred the rights to claim debts of PJSC DMK for a total amount of UAH 8.176 billion to Optimal Trade LLC. This decision was made at an extraordinary general meeting of Donetsksteel's shareholders on September 2, 2020.

In addition, the business court of Dnipropetrovsk region, within the framework of the DMK bankruptcy case, introduced a reorganization procedure. The court issued a relevant resolution on October 16, 2020, and Oleksiy Sokol was appointed reorganization manager.

The economic court of Dnipropetrovsk region opened proceedings on the DMK bankruptcy in May 2019. Creditors announced claims against the DMK in the amount of about UAH 130 billion, including the claims of Optimal Trade LLC being UAH 20.9 billion, and Metinvest Holding LLC being UAH 20.7 billion.

DMK specializes in the production of cast iron, steel, rolled products and consumer goods.

The company is controlled by the ISD corporation founded in 1995.

Source: www.en.interfax.com.ua