16 Jul 2012 19:56

Zyuzin's structure sells about 2% of Mechel shares in private deal

MOSCOW. July 16. (Interfax) - Calridge Limited, which belongs to the main beneficiary of Russian mining and steel company Mechel Igor Zyuzin, sold part of its stake in the group during a private deal made in July.

According to a statement sent to the U.S. Securities and Exchange Commission, Calridge sold 8,044,414 GDR (global depositary receipts) on Mechel shares, or the equivalent of 1.93% of the group's voting shares.

The purchasers have not yet been disclosed.

Zyuzin entered into a put option agreement as part of the deal. The buyers will be able to put the stake up for sale at a certain price within two years, and Zyuzin will have the preemptive right to acquire these GDR if the new owners want to sell them.