27 Nov 2012 12:16

Russian Technologies selling 45.42% of VSMPO-Avisma to management, Gazprombank for $970 mln

MOSCOW. Nov 27 (Interfax) - The state Russian Technologies (Rostekhnologii) corporation is selling 45.42% of titanium producer VSMPO-Avisma to the company's management and to Gazprombank for $965 million-$970 million, VSMPO-Avisma's general director, Mikhail Voyevodin, told reporters.

Following the deal, a joint venture between management and the bank will own 50% plus one share in the corporation.

Closure is expected within two weeks.