It is reported that the Antimonopoly Committee of Ukraine has permitted Russia OJSC Severstal to acquire a stake in the statutory fund of Dnipropetrovsk based Severstal Ukraine Ltd which would give the buyer over 25% of the votes in the management body of the company.

Severstal Ukraine which was founded in 2007 is a subsidiary of Russia OJSC Severstal. As of October 25, 2010 the key shareholders in the company were Severstal Trade GmbH with a 51% stake and Hektar Ltd.

Severstal decided from November 1, 2010 to unite two its companies in Ukraine Severstal Ukraine Ltd which is part of the sales division of Severstal Russian Steel and OJSC Dniprometyz.

(Sourced from Interfax)