Russian mining and steel group Mechel has announced that it has closed a deal for the disposal of 100 percent stakes in Voskhod Mining Plant in Khromtau in Kazakhstan) and in Tikhvin Ferroalloy Plant in Tikhvin in Russia's Leningrad region to Turkey's Yildirim Group for a total of $425 million.
In accordance with the conditions of the deal, Yildirim Group paid the entire sum to Mechel.
Yildirim Group is a privately-owned, highly-diversified industrial group active in 11 sectors including mining, ferroalloys, fertilizer production and trade, coal and coke trading, port operations and logistics, shipping and shipbuilding, energy, real estate development and private equity investments.