12 April 2004 08:46
BANK SELLS RUSSIAN COAL ASSETS FOR $40 MLN
sold its assets in the Russgy Ugol or Russian Coal company for $40
million, Filipp Ilyin, the bank's public relations manager, told
MOSCOW. April 12 (Interfax) - International Industrial Bank (IIB)
Interfax.
The bank is "offloading non-core assets, including coal assets,"
Ilyin said. He declined to say which other non-core assets the bank
The assets include stakes in coal producers Rostovugol and Gukovugol from the Rostov region, Dalvostugol from the
Amur region and the Razrez Kiselevsky strip mine from the Kemerovo region, Ilyin said. The sale of these assets was
completed last week.
would sell.
IIB and oil company Rosneft formed Russian Coal on a 50:50 basis in 2002. "Thus, we have divested our interest
in Russian Coal," Ilyin said.
Rosneft pulled out of Russian Coal in August last year as part of its own bid to offload non-core assets.
Russian Coal owns controlling stakes in Gukovugol, Rostovugol and the Kiselevsky mine, and less than a majority in
Dalvostugol. Russian Coal also controls the Novosibirsk Metallurgical Plant and the Amurmetall steel works from
Komsomolsk, Amur region.
[Interfax] |
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