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Mechel OAO Announces Disposal of Toplofikatsia Rousse EAD


Tuesday, 18 Dec 2012 07:40am EST 

Mechel OAO announced that it has signed an agreement for the disposal of 100% of Toplofikatsia Rousse EAD to Toplofikatsia Pleven, a privately-held Bulgarian power company. The disposal is valued at approximately 27.7 million euro based on the asset's equity value. Toplofikatsia Pleven will assume all of TPP Rousse's investment obligations. Additionally, the buyer will assume the accounts payable to Mechel Carbon for historical coal deliveries in amount of USD18.8 million. One of the deal's requirements is obtaining the appropriate permission from Bulgaria's Commission on Protection of Competition. VTB Capital and UniCredit Bank acted as financial advisors and CMS as legal advisor to Mechel OAO in this transaction. 

Company Quote

1.84
0.0 +0.00%
11 Jul 2014