Investment Intelligence provides up-to-date private equity information and news designed for entrepreneurs, private equity investors and corporate acquirors interested in Central & Eastern Europe.

Metalloinvest Considering 2010 IPO

Posted Thu, 14/01/2010 - 22:32

Russia's Metalloinvest has spoken with bankers about a possible 2010 initial public offering (IPO), though a specific target date and price have not been settled on. It's believed the Russian iron ore producer will eventually sell company shares publicly as it tries shore up and refinance more than USD 5.4 billion in debt. Metalloinvest first planned an IPO in 2008 but had to cancel those plans due to the financial crisis and waning investor enthusiasm.

Metalloinvest (www.metinvest.com)
Metalloinvest is a Russian holding company whose portfolio companies combine to be the region's leading iron ore mining and steel production operation. Metalloinvest leads the world with ownership of the largest iron ore deposits and is the world's fourth-largest in commercial iron ore production.

The company's two divisions, mining and steel, provide a variety of iron ore and steel products to customers throughout Russia, the CIS, and Europe. Other non-core holdings include metal processing, logistics and transportation, and leasing.

Metalloinvest's 2008 EBITDA was reported at USD 3.6 - 3.8 billion on sales of USD 9.2 billion.