March 23, 2020 / 7:29 AM / 18 days ago

Russian businessman Avdolyan may agree deal for 51% Elga stake by April - sources

MOSCOW, March 23 (Reuters) - Russian businessman Albert Avdolyan may reach an agreement to buy steel and coal producer Mechel’s 51% stake in the Elga coal project by the end of April, two sources with knowledge of the talks told Reuters on Monday.

Russian lender Gazprombank said on Monday it had signed a pact to sell 49% of its shares in the project to Avdolyan’s company, A-Property.

A-Property, Gazprombank and Mechel declined to comment. (Reporting by Anastasia Lyrchikova, Polina Devitt and Tatiana Voronova, Writing by Alexander Marrow Editing by Louise Heavens)

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