KIEV, July 31 - Netherlands-based Metinvest B.V., the parent company of the international vertically integrated mining and metals group Metinvest, has announced it has exercised an option to buy 50% of the mining and metallurgical business of the Industrial Group, resulting in Metinvest and a group of investors consolidating more than 50% of Ukrainian steelmaker OJSC Zaporizhstal.

As of a result of the deal, Metinvest, jointly with a group of investors, acquired 50.0032% of Zaporizhstal Iron & Steel Works (Metinvest owns 49.0032% and the group of investors owns 1%), as well as shares in a number of other former Industrial Group companies in the mining and metals sector, Metinvest said in a press release.