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Yota founder claims Elgen project in Yakutia

Yota founder claims Elgen project in Yakutia
Photo: pixabay.com

The company "A-Property", which belongs to the founder of Yota Albert Avdolyan, filed an application with the FAS to buy out 100% of the shares of the Elginskoye field in Yakutia. Now the controlling stake belongs to Mechel, and 49% of the shares belong to Gazprombank.

As the RIA News, the application states that the total value of the potential buyer’s assets is seven billion rubles, and the value of the acquired company is more than 400 million rubles. The reserves of the Elga coal deposit, one of the largest in the world, are estimated at 2,2 billion tons.

In 2016, Mechel sold its shares to Gazprombank on terms of a buyback three years later, but later he refused this opportunity and now the bank has the right to look for a new buyer. In the summer, A-Property applied to the Federal Antimonopoly Service to buy out 49% of Gazprombank's shares. Now, according to the newspaper, he wants to buy out the full package.

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