According to Troika Dialog the potential sale of Raspadskaya to Vneshekonombank shows that the coal producer shareholders enjoy significant political leverage.

Interfax said citing people with knowledge of the plan that VEB chaired by Prime Minister Mr Vladimir Putin may buy a combined 80% stake in Raspadskaya from company management and Mr Roman Abramovich Evraz Group for as much as USD 5.3 billion a more than 30% premium to the market price. The bank previously helped fund Evraz in 2008, lending the steelmaker USD 1.8 billion during the financial crisis.

Troika analyst Mr Sergei Donskoi said "Surprisingly, VEB also stands ready to provide financial support to Evraz Group in good times. The principal shareholders of the company still enjoy significant political leverage."

A week ago, the Raspadskaya board of directors moved in favour of paying out generous dividends for the first half that represent virtually all of net profits which analysts say is evidence that the main shareholders' stakes are soon to be sold.

(Sourced from Bloomberg, Interfax)