Source: Gazprombank to sell 34% in Elga to Mechel for 30 bln rbl - Metals & Mining - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Source: Gazprombank to sell 34% in Elga to Mechel for 30 bln rbl

MOSCOW, Oct 3 (PRIME) -- RussiaТs Gazprombank plans to sell a 34% stake in the Elga coal project to metals and mining group Mechel for slightly over 30 billion rubles, a source familiar with the situation told PRIME on Thursday.

He also said the deal should be closed by January 20, 2020.

On Monday, a spokesman for Mechel said that the company accepted GazprombankТs offer and would buy 34% in the project from the bank.

Mechel holds 51% in Elgaugol, the holder of the license to develop the Elga field. Gazprombank bought 49% in the company from Mechel in 2016 in the framework of restructuring of a 34.3 billion ruble debt.

Gazprombank said in August that it had received an offer of purchase of a 49% stake in the Elga coal deposit from a company. An official of the Federal Antimonopoly Service said that an application for clearance of the deal was sent by A-Property, a company of co-founder of telecom operator Yota Albert Avdolyan, while Mechel had the right to buy out the stake of the bank in a month.

(65.4399 rubles Ц U.S. $1)


03.10.2019 13:11
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 78.2611 +0.3542 29 may
USD 71.1012 +0.0377 29 may
Stock Market Indices
1D 1W 1M 1Y
rtsi 1232.17 +1.65 17:15 28 may
micex 2768.33 +1.00 17:15 28 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 196.33 +0.82 17:00 28 may
lkoh 5376.50 +0.45 17:00 28 may
rosn 375.85 +0.25 17:00 28 may
sber 202.72 +2.12 16:59 28 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 77.8900 -0.4000 14:59 28 may
USDTD 71.2825 +0.6625 17:44 28 may