Russian sources, citing an informant close to the negotiation process, have reported that Russian steel producer ESTAR Holding (ESTAR) may complete the acquisition of local steelmaker Amurmetall by the end of the current year.
Although the company has provided no official feedback regarding this report, in an interview last year ESTAR's main shareholder Vadim Varshavsky stated that his company had an option to buy Amurmetall, which it planned to exercise the following year. At that time, Mr. Varshavsky estimated Amurmetall as being worth in the range of $1-1.5 billion.