Mechel Reports Mecheltrans Acquisition of Stake in Vanino Sea Trade Port OAO
MOSCOW, Jan. 31, 2013 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the
leading Russian mining and metals companies, reports that Mecheltrans OOO
acquired a package of Port Vanino's shares.
Mecheltrans OOO acquired 21.64% of Vanino Sea Trade Port OAO's common shares
from one of the port's minor shareholders – a subsidiary of the company En+.
The transaction amounted to 4.57 billion rubles.
In line with the transaction's conditions, the port's shares became
Mecheltrans's property once the agreement was signed, while payment for the
share package is due to be made within 145 days. The transaction will be
funded by the investors who financed the acquisition of Port Vanino's
controlling stake, and will thus have no bearing on Mechel Group's leverage.
Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of
coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled
products, hardware, heat and electric power. Mechel products are marketed
domestically and internationally.
The Mechel OAO logo is available at
Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you
to the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
"Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in
our Form 20-F, that could cause the actual results to differ materially from
those contained in our projections or forward-looking statements, including,
among others, the achievement of anticipated levels of profitability, growth,
cost and synergy of our recent acquisitions, the impact of competitive
pricing, the ability to obtain necessary regulatory approvals and licenses,
the impact of developments in the Russian economic, political and legal
environment, volatility in stock markets or in the price of our shares or
ADRs, financial risk management and the impact of general business and global
CONTACT: Mechel OAO
Tel: +7 495 221-88-88
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