OAO Severstal announced that its indirect subsidiary Lybica Holding BV, Afferro Mining Inc and Afferro's wholly owned subsidiary Mano River Iron Ore Holdings Limited have entered into an amendment to the agreement relating to the sale of Afferro's 38.5% minority interest in Severstal Liberia Iron Ore Ltd to Lybica.
The amendment provides for Lybica to pay USD 50 million to Mano in full and final satisfaction of the balance of the purchase price payable under the transaction within seven business days from 13st December 2012.
Source:
http://www.steelguru.com/raw_material_news/Severstal_announces_payments_to_Afferro_Mining/295617.html
