October 10, 2019 / 12:11 PM / 5 days ago

Belgium's financial regulator opens probe into Trafigura's Nyrstar - FSMA

LONDON, Oct 10 (Reuters) - Belgium's Financial Services and Markets Authority has opened a formal investigation into zinc group Nyrstar, now majority-owned by commodities trader Trafigura, an FSMA spokesman said, without providing additional details.

Nyrstar underwent a major restructuring this year to avoid bankruptcy, during which Trafigura stepped in to raise its stake to 98% from 24.4% previously.

The FSMA issued a warning on the transparency of Nystar's accounting in June.

"The FSMA deems that the shareholders do not have sufficient information to be able to approve the annual financial statements for the financial year ended on 31 December 2018 at the general meeting of 25 June 2019," the FSMA said.

Reporting By Julia Payne, editing by Deepa Babington

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