Russia’s Sberbank can cede 29 bln rbl Mechel’s debt to Gazprombank

MOSCOW, Apr 7 (PRIME) -- Russia’s biggest lender Sberbank has asked court to cede claims over debts of metals maker Mechel amounting to 3.1 billion rubles and U.S. $381 million (29 billion ruble at current rates in total), to Viamelion Consultants Limited belonging to people affiliated with Gazprombank, according to documents seen by PRIME on Thursday.

According to the court documents, Sberbank ceded rights for the entire $224 million debt of Mechel’s affiliate Southern Kuzbass to Viamelion and part of the rights in two other claims against Southern Kuzbass and Mechel.

The court will consider the cession on April 13 and 14.

End