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M&A: Ruda Khakasii to buy Mundybash beneficiation plant, Abakansky Rudnik

Russia's Federal Antimonopoly Service granted the application of LLC Ruda Khakasii (Republic of Khakassia) for the purchase of a 100% equity stake in Mundybash beneficiation plant LLC (Kemerovo region), the regulatory body informed.

The application was submitted on December 24, 2013. The information and documents accompanying the application meet the requirements of article 32 section 5 of Russia's Competition Law.

Also, Russia's Federal Antimonopoly Service permitted Ruda Khakasii to acquire 100% of the authorized capital of LLC Abakansky Rudnik.

The core business of the above said companies is the mining and beneficiation of iron ore.

It will be recalled that in 2013, EVRAZ plc and LLC Ruda Khakasii signed a Memorandum of Understanding regarding the acquisition by LLC Ruda Khakasii of 100% in LLC Abakanskiy Rudnik, LLC Abaza-Energo, LLC Teyskiy Rudnik and LLC Teyskie Energoseti from JSC Evrazruda. This MoU was prepared with the assistance of the Government of Khakassia; the deal is expected to close in the first quarter of 2014.

"AK&M", 14.03.2014


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