Russia’ VTB gets stakes in 6 Mechel units under debt restructuring

MOSCOW, Oct 8 (PRIME) -- Russian mining giant Mechel has put a stake in its unit Mechel-Mining, three its subsidiaries, Chelyabinsk Metallurgical Plant and Urals Stampings Plant as collateral to VTB Bank for debt restructuring, as seen by PRIME of the official Website of the federal register of legal data on Thursday.

The bank received a 37.5% stake in Mechel-Mining and 25%-stakes in its subsidiaries, 21.7% in Chelyabinsk Metallurgical Plant and 25% in Urals Stampings Plant.

On September 9, Mechel and VTB said they’ve agreed to restructure Mechel’s 70 billion ruble debt.

(62.7061 rubles – U.S. $1)

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