Press center menu
Rosatom State Corporation Increases Stake in ARMZ Uranium Holding Co. to 76.097%
December 1, 2009, Moscow: ARMZ Uranium Holding Co. received on November 27, 2009 a tranche of payment of RUR33.1 billion from Rosatom State Corporation which has subsequently increased the State Corporation’s interest in ARMZ Uranium Holding Co. to 76.097% from the previous 51.83%.
The funds were disbursed in pursuance of Order 909-R dated July 11, 2009 of the government of the Russian Federation providing for a subsidy of RUR50 billion from the federal budget to Rosatom State Corporation for the purpose of purchasing equity of Atomredmetzoloto, AKA ARMZ Uranium Holding Co.
ARMZ Uranium Holding Co. received the first tranche of payment in the amount of RUR16.9 billion in pursuance of the government order on July 30, 2009.