Russia's Mechel sells stake in Elga coal mine to repay debts

摘要

Russian mining and steel company Mechel closed the sale of the Elga Coal Complex, agreeing with its creditors to spend the proceeds on debt reduction. Mechel said on Wednesday it has sold its 51% stake in Elga to A-Property for Rubles 89 billion ($1.17 billion). The buyer also fully settled Mechel’s liabilities with state development corporation VEB.RF totaling $107 million.