According to a report in Metal Expert, A-Property has completed the consolidation of a 100% stake in Eigaugol by exercising an option to buy in advance the rest of the asset shares from Gazprombank. The company will focus on Elgaugol’s development and substantial increase in its output. A-Property exercised an option in advance to buy a 49% stake in Elgaugol from Gazprombank. The transaction value reached RUB 45 billion.
Russian mining and metals company Mechel PAO had closed a deal on the sale of companies comprising Elga Coal Complex in March 2020. Mechel has sold its 51-percent of the shares of Elgaugol OOO, Elga-Doroga OOO and Mechel Trans Vostok OOO to A-Property OOO. The consideration amounted to 89 billion rubles, including the control premium. The buyer also fully settled Mechel's liabilities to the state development corporation VEB.RF, totaling 107 million US dollars.