Mechel has received several offers to sell its Southern Urals Nickel Plant in Orenburg region, Mechel CEO Oleg Korzhov said in an interview with Kommersant.
He said that potential buyers show interest in the asset from time to time. "We brought negotiations almost to the final stage, we discussed the price and everybody was fine with it. The matter advanced to the stage of financial guarantees for the fulfillment of obligations. Then the interested parties discontinued the talks. We currently have other offers on the plant but they require additional discussions," Oleg Korzhov said.
Mechel PAO (tax number: 7703370008) is one of the leading Russian companies. The company's profile covers 4 business segments: mining, metallurgical, ferroalloy industry and power engineering. The company unites manufacturers of coal, iron-ore concentrate, nickel, steel, rolled products, high-added value products, thermal and electric energy. Mechel's goods are sold in Russia and worldwide.
IFRS profit of Mechel PAO for 2019 attributable to the company's shareholders dropped by 81% to RUB 2.409 billion from RUB 12.628 billion a year earlier. Revenue decreased by 5% to RUB 296.567 billion from RUB 312.574 billion, EBITDA decreased by 29% to RUB 53.428 billion from RUB 75.667 billion.
