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Rinat Akhmetov’s Smart Group interested in operating and buying Kremikovtzi

Submitted on Friday, 31 October 2008No Comment

The Ukrainian company Smart Group, which is part of Rinat Akhmetov’s Metinvest Holding, is interested in running and eventually acquiring Bulgaria’s largest steel-maker Kremikovtzi.

The news was announced Thursday night by the leader of the Kremikovtzi division of the Confederation of the Independent Syndicates in Bulgaria Vasil Yanachkov after his meeting with the Deputy Minister of Economy and Energy Nina Radeva.

Yanachkov explained that representatives of Smart Group had gotten in touch with Radeva, and that the Ukrainian company and the Minister of Economy and Energy Petar Dimitrov were expected to hold talks soon.

Metinvest Holding of Ukraine’s richest man Rinah Akhmetov merged with Smart Group in 2007 effectively taking it over.

Smart Group owns Bulgaria’s steel-maker ProMet, which is located close to the Black Sea city of Burgas.

According to the rankings of the Polish magazine Wprost, Rinat Akhmetov is the second richest Eastern European with a fortune of USD 23 B. He is the founder and president of the SCM Holdings, and his mining, coal, and steel holding Metinvest is among the leading global companies in the field.