Chinese Baosteel may acquire blocking shares of “Mechel-Mining” for $1.25 billion
Edited by Rhod Mackenzie / 2013-04-11 05:29:16
“Mechel” is rumoured to be making arrangements with the Chinese Baosteel Group on the sale of a blocking interest inf “Mechel-Mining”. “Vedomosti” reported citing one of the minorities of the company.
According to him, “Mechel Mining” might be valued at $5 billion, while the blocking shareholding at $1.25 billion.
The source, familiar with the owner of Mechel, I.Zyuzin, confirmed the information on the negotiations. He has noted that the interaction with the prospective purchaser was difficult and he knew nothing about the completion of the negotiations.
