Russian mining and steel company NLMK and Belgian investment fund SOGEPA have agreed to invest Eur100 million each in developing and modernizing NLMK Belgium Holdings (NBH), NLMK said Thursday.
The agreement also provides SOGEPA (Societe wallonne de Gestion et de Participations S.A.) with an option to sell 24% shares in the jointly owned group of assets to NLMK in 2023 thus reducing its stake to 25%. At present, NLMK and SOGEPA each hold a 49% equity stake in NBH.
NBH comprises NLMK Europe Strip Division (NLMK La Louviere and NLMK Manage Steel Center in Belgium and NLMK Strasbourg in France) and NLMK Europe Plate division (NLMK Clabecq in Belgium and NLMK Verona in Italy).
— Ekaterina Bouckley