September 14, 2012 / 1:16 PM / 5 years ago

Russia's Mechel may sell Siberian deposit stake-sources

MOSCOW, Sept 14 (Reuters) - Russia’s New-York-listed steel and coal miner Mechel is looking to sell a 25 percent stake in its East Siberian Elga coal deposit to South-East Asian investors, two sources familiar with the discussions said on Friday.

“They are in active talks with companies from South-East Asia (including) Japan, China and South Korea,” one of the sources told Reuters.

“They could either sell a stake (in it) or (sign) a stake agreement, (which will bind) the company to sell its products at a fixed price in exchange for receiving a credit line.”

Mechel’s spokeswoman declined to comment. (Reporting by Polina Devitt and Alexei Anishchuk; editing by Megan Davies)

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