May 7, 2010 / 2:06 PM / in 7 years

BRIEF-Russia's Mechel raises $229 mln in prefs placement

MOSCOW, May 7 (Reuters) - Russia’s Mechel (MTL.N) says:

* Selling shareholders have agreed to sell 30,500,000 preferred ADS -- representing 15,250,000 preferred shares -- at $7.50 per preferred ADS

* Placement raises $228.75 mln

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