OREANDA-NEWS. December 30, 2013. Mechel (NYSE: MTL), one of the leading Russian mining and metals companies, announces closing the deal for disposal of 100% shares in Voskhod Mining Plant (Khromtau, Kazakhstan) and Tikhvin Ferroalloy Plant (Tikhvin, Leningrad Region, Russia) to Turkey’s YILDIRIM Group for a total of 425 million US dollars.

In accordance with the deal’s conditions, the YILDIRIM Group paid the entire sum to Mechel.

Societe Generale Corporate and Investment Bank, ING Bank and Dechert LLP were advising Mechel on this transaction.

“This agreement was signed in line with the strategy on restructuring the group’s non-core assets. The funds our company got from this deal will be used for deleveraging. On the whole, in 2013 we made significant headway in disposing of non-core assets, closing deals on nine out of 14 enterprises we marked for disposal. We will complete sales of other non-strategic assets in 2014,” Mechel Chief Executive Officer Evgeny Mikhel noted.