Mechel finalizes terms of cash offer with Oriel

Thursday, 27 March 2008 14:26:52 (GMT+3)   |  
       

The Russian steel and mining group Mechel has announced that it has reached an agreement on the terms of a recommended cash offer to be made for all shares issued or to be issued by the London-based nickel and chrome mining and processing company Oriel Resources Plc.

Under the offer, Mechel will pay $2.1986 per each Oriel share, amounting to a total consideration of $1.498 million for a 100 percent stake in Oriel. The offer is a subject to antitrust clearances in both Russia and Kazakhstan.


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