GPB interested in selling 49% of Elga to A-Property
MOSCOW. Jan 28 (Interfax) - Gazprombank (GPB) is interested in selling its 49% stake in the project to develop the Elga coal field to A-Property, a company owned by Yota cofounder Albert Avdolyan, a spokesman for the bank told Interfax.
"Gazprombank is interested in selling its stake in the Elga deposit to A-Property," the spokesman said.
It was reported earlier that steel and coal company Mechel , which owns 51% of Elga, did not take up an offer to buy out GPB's stake in the project - 34% of Elga for 31 billion rubles plus an option for the remaining 15%. Mechel was supposed to transfer the funds by January 20, but did not do so.
Mechel said it did not exercise the option because an alternative proposal was received, the study of which will require additional time and consultations with all parties, including the company's largest creditors.
RBC reported earlier that Mechel might sell its 51% of Elga, and the potential buyer is A-Property.
A-Property filed an application last summer to buy GPB's 49% stake in Elga.