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MMK to buy partner's stake in Turkey unit-source
March 10, 2011 / 2:40 PM / 7 years ago

MMK to buy partner's stake in Turkey unit-source

ISTANBUL, March 10 (Reuters) - MMK, a unit of Russian Magnitogorsk Iron & Steel Works (MAGN.MM), applied to the Turkish competition board to buy its Turkish partner’s stake in their steelmaking joint venture, sources close to deal told Reuters.

Atakas, MMK’s partner in the joint venture, owns 50 percent minus one share in MMK Atakas Metalurji. There was no further information regarding the transaction.

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