Russian metals and mining group Mechel said Monday that it had paid for a 55% voting stake (73.33% shares) in the Vanino Commercial Sea Port, Business News Agency PRIME informs.
Mechel’s spokesperson said that the company had transferred the funds for the stake, thus the deal may be considered as closed.
In December 2012, Mechel’s subsidiary, Mechel-Trans, won an auction for the stake in the port after having offered 15.5 billion rubles, while the starting price was set at 1.5 billion rubles.
The port’s cargo turnover totaled 5.9 million tonnes in 2011. The port processes coal, non-ferrous and base metals, timber, ore, containers, and automobile equipment.