Russia-based MMK Group has acquired an additional 12.77 percent of shares in Belon in an off-market transaction. Following the deal, MMK Group now holds a stake of over 95 percent in the coal company.
This transaction enables MMK Group to consolidate a larger stake in Belon and to satisfy the majority of minority shareholders in their bids to redeem their shares in the company.
Belon is part of MMK Group. The company extracts and processes coking coal and produces coal concentrate. Belon is a strategic supplier of raw materials to MMK.
Source:
http://www.steelorbis.com/steel-news/latest-news/mmk-increases-its-stake-in-the-coal-company-belon-to-95-percent-789463.htm
