A-Property bids to buy Gazprombank’s 49% in Elga coal deposit

MOSCOW, Aug 23 (PRIME) -- Russian company A-Property wants to buy 49% in the Elga coal project from Gazprombank, and has already filed a request for permission to do so to the Federal Antimonopoly Service, spokespeople of the bank and the service told PRIME on Friday.

“The bank saw and sees Elga as an investment asset. Over the past several months, investors were interested in buying a stake in Elga. As of today, we received an offer from one of them. We will not disclose conditions of the supposed deal, but it is good for the bank,” Gazprombank’s spokesperson said.

“The service received a request from A-Property to buy 49% in the Elga coal field from Gazprombank,” the service’s spokesperson said.

Metals and mining group Mechel holds 51% stakes in three assets of the Elga project – Elgaugol, Elga Road, and Mechel Trans Vostok, while Gazprombank has 49% stakes.

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