Mechel leaves British metallurgy with a record benefit

Mechel, saddled with heavy debts, continues to sale out its assets. Last week, the holding company sold the British metallurgical plant Invicta Merchant Bar, bought from Estar of Vadim Varshavsky for J80 in 2009. The private British company paid for this plant 13 750 times more – £1.1 million. Analysts, comparing this deal with the sale of other European assets of Mechel, call it successful.

On Friday, Mechel of Igor Zyuzin reported sale of 100% of the rolling mill Invicta Merchant Bar’s shares (Kent, the UK), stopped in January. The amount of the transaction is £1.1 million ($1.7 million), it takes into account the plant’s debt to Mechel, which isn’t disclosed. The British Helium Miracle 127 LLP, registered just two months ago, became the new owner of the enterprise. The owner of Helium Miracle is the Financial Director of the British investment fund Aeternum Capital (founded in 2009, invests into energy projects mainly) Duncan Sayers. Representatives of the fund didn’t answer for the Kommersant’s application.