PRESS: Mikhail Gutseriyev buys 66.85% stake in Kuzbass Fuel Co

MOSCOW, May 7 (PRIME) -- Russian businessman Mikhail Gutseriyev and his partners have acquired a 66.85% stake in the Kuzbass Fuel Company from company Igor Prokudin, who sold 50.07%, and Chairman of the Board of Directors Vadim Danilov, who sold 16.78%, business daily Kommersant reported on Tuesday, citing sources.

The market price of the stake amounts to 13 billion rubles as of May 6.

Mikhail and Said Gutseriyevs bought 18.9% in Kuzbass Fuel Company to be owned by Kilton Overseas Ltd, Rontelor Holdings Ltd and Hemfield Finance Ltd. Iskender Khalilov bought 23.35% to be owned through Daenia Holdings Ltd and Milord Trading Limited.

According to Kommersant, the deals were signed in favor of group Safmar of Mikhail Gutseriyev, which already owns Russian Coal. A source with knowledge of the matter said that Safmar has no plans to buy a controlling stake in Kuzbass Fuel Company but sees the asset as a portfolio investment.

(65.3350 rubles – U.S. $1)

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