Russia’s Sberbank acquires 10% stake in Metalloinvest’s Mikhailovsky GOK

Monday, 13 August 2018 16:41:45 (GMT+3)   |   Istanbul
       

Sberbank of Russia has acquired a 10 percent stake in Mikhailovsky GOK, a mining subsidiary of Russia-based global iron ore and hot briquetted iron (HBI) producer Metalloinvest, according to media reports.

Accordingly, the funds received from the transaction will be used to repay a part of Mikhailovsky GOK’s debt to Sberbank.

Metalloinvest retains about 90 percent of shares in Mikhailovsky GOK.