Yildrim secures Mechel's stake in ferroalloys
Dec 30, 2013 | 11:38 AM
| Claire Hack
LONDON Russian steel producer Mechel OAO has closed the sale of 100 percent of its shares in the Voskhod mining plant and Tikhvin ferroalloy plant to Turkish conglomerate Yildirim Group for $425 million.
"This agreement was signed in line with the strategy on restructuring the groups non-core assets. The funds our company got from this deal will be used for deleveraging," Mechel chief executive officer Evgeny Mikhel said in a statement.....
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