On January 16, Russia-based steelmaking and mining giant Evraz announced that it has completed the acquisition of a 50 percent stake in Corber Enterprises, which holds an 82 percent interest in Raspadskaya Coal Company (Raspadskaya), one of the largest coking coal producers in Russia, and its subsidiaries. The acquisition makes the group the largest producer of coking coal in Russia.
Following an initial announcement on October 4 last year, Evraz announced on December 27 that it had received pre-transfer merger clearance from the Russian Federal Antimonopoly Service (FAS) in connection with the acquisition of an indirect controlling interest in Raspadskaya.
According to the terms of the acquisition, Evraz has issued 132,653,006 new ordinary shares representing 9.9 percent of its existing issued share capital, to the seller of the stake in Corber Enterprises.