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Vnesheconombank Can Support Roman Abramovich Through Buying Raspadskaya For Enormous $5.3 billion

Wednesday, Jul 13, 2011 at 9:00 am in Metals & Mining
Posted by Tim Berg, Analyst

Vnesheconombank (VEB) can buy up to 80% of troublemaking Raspadskaya coal mine, from its current owner Evraz Group and holding’s management for enormous $5,3 billion, Russian newspaper Vedomosti has reported citing Interfax sources.

This amount is 36% higher than current Raspadskaya market price on the exchange, while VEB performs as the buyer as there were no other buyers for the asset. Discussions about sale of Raspadskaya mine started after the series of explosions happened in May 2010, when 90 people found dead and mine was flooded. 

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