Boliden closing in on deal for Lundin’s European mines
A deal would cement Boliden’s position as one of Europe’s biggest producers of zinc.
Russian steel and coal producer Mechel has agreed to buy Gazprombank’s 34% stake in the Elga coal deposit for around 30 billion roubles ($461 million), two sources familiar with the matter told Reuters on Thursday.
Mechel is expected to pay for the stake within the next four months, one of the sources added. Mechel accepted Gazprombank’s offer to sell the stake in September.
Mechel declined to comment. Gazprombank said in a statement that it expected Mechel to “comply with its obligations under the law and signed documentation”, without commenting further.
($1 = 65.0790 roubles)
(By Anastasia Lyrchikova, Tatiana Voronova and Polina Devitt; Editing by Jan Harvey)
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