Mechel not to disclose deal exceeding 25% of book value

MOSCOW, Feb 16 (PRIME) -- The board of directors of metals producer Mechel has decided not to disclose information about the conditions of a deal exceeding 25% of book value, the company said in a statement late on Wednesday.

“To make a decision on consent to the execution of these interrelated transactions related to the alienation or the possibility of alienation by the Company directly or indirectly of property, the value of which, taking into account previous interrelated transactions, exceeds 25% of the book value of the company's assets as of the last reporting date,” the company said.

“It was decided not to disclose information about the terms of the transaction, including the price of the transaction, as well as about the person (persons) who are its party (parties), beneficiary (beneficiaries)."

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