Mechel ready to give stakes in projects for debts
Edited by Rhod Mackenzie / 2015-07-01 08:42:26
Mechel is ready to share its stake in the Elga project so as to settle its debts, CEO O. Korzhov said.
To settle its debts the company can sell it strategic and non-strategic object. We are ready to consider any variants if they are interesting for us, O. Korzhov said.
As of June 15th Mechel’s debt reached $6.772 bln, 69% of which was issued by the Russian state banks.
Mechel has been negotiating upon the restructuring of its debt from early 2014. The company has agreed with Gazprombank and VTB, still negotiating with Sberbank.
