Roman Abramovich’s Greenleas International may buy a 26.74% stake in Raspadskaya, which operates Russia’s largest coal mine of the same name. The permission to sell was given by the Federal Antimonopoly Service (FAS), writes Kommersant.
90.6 percent of Raspadskaya is owned by Evraz, more than a quarter of which, in turn, is owned by Greenleas International, about 20 percent – by Alexander Abramov’s Abiglaze Ltd, and about ten – by Alexander Frolov’s Crosland Global Ltd.
By the end of the year, Evraz intends to complete the spin-off of coal assets by distributing the shares of the coal company among all shareholders in proportion to their shares. The details of the deal have not yet been announced, the company promises to provide details in November.
Preparations began about a year ago, when Evraz consolidated coal assets on the basis of Raspadskaya. As a result, the production complex began to include seven mines, two open-pit mines and three processing plants in the Kemerovo region and one mine in Tuva. The combined company’s reserves will amount to 1.9 billion tons of coal.
In October, the company reported a multiple increase in net profit – up to 43 billion rubles – in the first nine months of 2021. Against this background, the company’s shares rose sharply in price.
#Shares #owner #largest #Russia #allowed #sold #Abramovich