NLMK sells KMA Ruda

Russian Novolipetsk Steel (NLMK) announced today that it has agreed to sell its 92.04 percent stake in KMA Ruda for $300 million. According to the agreement, 60 percent of shares of KMA Ruda are sold to KOKS and around 30 percent of shares are sold to Lesser Enterprises Limited Company for $195.5 million and $104.5 million respectively. The transactions would be closed upon the receipt of approval from the state regulatory authorities.