Mechel is going to sell Donetsk electric metal works before July 31 2014
Edited by Rhod Mackenzie / 2014-05-21 01:53:53
Mechel is going to sell the Donetsk electric metal works (DEMZ) before July 31st, 2014 in accordance with the offer received before from the third party, not making public the name of the buyer. The group received the offer from the third party for the sale of DEMZ FOR $80 million on December 7th 2013. The sum of $20 million should be transferred on the sales day, and the balance of $60 million should be paid within 2 years from the finalisation date. The buyer compensates to the seller operational expenses made since January 1 2014.
The transaction on sales and purchase of 100% in DEMZ presupposes granting of the permits by the antimonopoly authorities. It should be closed before July 31 2014.
