Alrud has announced that it advised Russian mining and metals company Mechel PAO in "offering Gazprombank AO the option to purchase 49% of shares in the Elga coking coal deposit development project for RUB 34.3 billion."
According to Alrud, the agreement obligates Mechel to sell Gazprombank 49% of shares in Elgaugol OOO, the project operator company and owner of its subsoil license, 49% of shares in Elga-Doroga OOO, which owns the Ulak-Elga railroad, and 49% of shares in Mecheltrans-East OOO which is the railroad’s transport operator. The cash acquired through this deal will be used to repay Mechel’s debt to Sberbank PAO and Sberbank Leasing AO. Partial debt repayment is a condition for restructuring of Mechel’s debt to Sberbank PAO.
The Alrud team consisted of Partners Alexander Zharskiy and Andrey Zharskiy, Senior Associate Oleg Ezhov, and Associate Sergey Khanaev, among others.
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