Privatisation of MMK shares

Privatisation of MMK shares

For the privatisation of the Russian steel producer Magnitogorsk Iron and Steel Works' (MMK) 17.8% stakes will be transferred by the government to the country's Privatisation Fund which will be auctioned in the next few months. For the moment it is not clear which parties will make a bid for MMK. However, MMK management, who is creating a new management in Moscow to transfer its 56% shares and Yuzhniy Kuzbass and the associated parties are reported to be interested to make a bid for MMK shares. The exact bidders will be announced later by the Privatisation Fund in a 45 day period.