OREANDA-NEWS. The Board of Directors of Mechel OAO (MICEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, decided to create a Special Committee of the Board as part of efforts aimed at restructuring Mechel OAO’s debt portfolio.

The Board of Directors tasked the newly created Committee with examining the deals with lender banks that had been presented for approval to Mechel OAO’s extraordinary general shareholders’ meeting, employing an independent consultant to obtain a fairness opinion and prepare recommendations on the said deals to Mechel OAO’s general shareholders’ meeting on the basis of the said fairness opinion.

The Special Committee includes all of the company’s Board of Directors’ independent members:

  • Vladimir Yurievich Korovkin, president of the Committee
  • Arthur David Johnson, member of the Committee
  • Vladimir Vasilyevich Gusev, member of the Committee
  • Igor Stepanovich Kozhukhovsky, member of the Committee
  • Yuri Nikolayevich Malyshev, member of the Committee.

Mechel OAO’s extraordinary general shareholders’ meeting will take place on March 4, 2016.

Mechel is an international mining and steel company which employs over 67,000 people. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high valueadded products.