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Koks OAO May Sell Slovenian Steel Group-Interfax

Thursday, 13 Jun 2013 05:08am EDT 

Interfax reported that Koks OAO (Koks) may sell stock in Slovenian Steel Group (SSG), which is managed by Industrial Metallurgical Holding, also a Koks group enterprise, Koks materials say. Up for sale are 167,762 SSG shares representing, according to the official Koks group website, 16.867% of its charter capital and 100% of the stock held by Koks. The price tag on the deal could be not less than RUB 1.132 billion. The deal was approved by Koks shareholders at their annual meeting June 10. The counteragent for the deal, according to the materials, could be either OJSC stockholders Yevgeny and Andrei Subitsky or Dilon Cooperatief U.A., which is an SSG majority holder with 55.3569% of the group's stock, according to the website. Another 25% of the group's stock belongs to the Republic of Slovenia. Sources at Koks told Interfax the sale of the stock is partly technical in nature, the goal being the divestment of a non-core asset from the balance of Kemerovo Koks, so as to reduce risks. The sale of the SSG stock to Koks shareholders could be considered as compensation to the shareholders of the OJSC for unpaid dividends for 2011. 

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