The Ukraine government has finally succeeded in completely divesting itself from ArcelorMittal Kryviy Rih with a sale of its remaining 0.1% stake. The government’s State Property Fund sold the shares to Dragon Capital (2.26 million shares) and Concorde Capital (1.6 million shares) through the Ukrainian Interbank Currency Exchange. The total price tag for the sale was UAH 54.819 million.
ArcelorMittal Kryviy Rih (www.arcelormittal.com.ua)
As a subsidiary of global steel producer ArcelorMittal, ArcelorMittal Kryviy Rih is a Ukrainian mining operation made up of four separate production plants. The plants produce coke, slag, pig iron, and a variety of low-grade and reinforced steel products. ArcelorMittal Kryviy Rih is known among investors to be one of the most efficient operations in the ArcelorMittal family.
Dragon Capital (www.dragon-capital.ua)
Dragon Capital is one of the leading financial services firms providing asset management services, investment banking, private equity, and securities brokerage to both corporate and individual clients.
In a June 2009 Thomson Extel Pan European Survey the company was named the leading Ukrainian brokerage in terms of private equity research. With offices in Kyiv and Prague, Dragon employs more than 140 people.
Established in 2000, the company is an independent partnership controlled by management, with a small minority stake held by Goldman Sachs.