ChelPipe’s core owner may buy Rusnano’s stake in JV Eterno

MOSCOW, Jul 26 (PRIME) – The core owner of Russia’s Chelyabinsk Pipe-Rolling Plant (ChelPipe), Mountrise Limited, may buy a 49.89% stake of state-owned nanotechnology company Rusnano in Eterno, a white metallurgy joint venture with the plant, Rusnano said in a statement on Wednesday.

The deal may be closed until the end of September.

“Rusnano has completely fulfilled the task set within the framework of the project. We are satisfied with the results of the joint venture and we thank our partners who ensured creation of a unique venture of the world level, whose production substituted imports of Western suppliers,” the company said citing Deputy CEO Oleg Kiselyov.

In June, Rusnano said it planned to sell the stake in Eterno for at least 4.72 billion rubles.

(59.8185 rubles – U.S. $1)

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