Mechel loses almost $1 billion during assets sales
Edited by Rhod Mackenzie / 2013-08-02 06:46:23
On Thursday Mechel of Igor Zyuzin announced the signing of an agreement about the sale of two ferroalloy plants – the Voskhod concentrating complex in Kazakhstan and the Tikhvin ferroalloy plant in Russia – to Turkish Yildirim Group. The amount of the transaction made up $425 million.
In the near future the parties will apply to the regulating bodies of Russia and Kazakhstan for approval. Societe Generale Corporate and Investment Bank, ING Bank and Dechert LLP were the consultants of Mechel.
