Renova to sell non-ferrous metals plants

Renova of Viktor Vekselberg has decided to leave non-ferrous metal working business. The company wants to sell the Yekaterinburg and Kamensk-Uralsk plants. The Group says that the non-ferrous metals working is a nonstrategic field for it and promises buyers of the Yekaterinburg plant, estimated at 4 billion rubles, the yield in the amount of more than 30%. Analysts doubt that Renova would sell such profitable business.

As it has been known, the Group Renova of Viktor Vekselberg offered the Yekaterinburg non-ferrous metals working plant (YeZOTsM) for sale. According to sources that are familiar with the situation, the asset was estimated at 4 billion rubles; the company A-Ventures, which manages the plant in the interests of Renova, is engaged in its sale. Renova confirmed the information about its plans to sell the plant. “We are an investment fund, and we are always ready to buy or sell, if there is a good deal. Moreover, the non-ferrous metals working is not strategically important sector for Renova,” – the Group’s CEO Alexei Moscov explained to the Kommersant.