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.