January 21, 2020 / 6:43 AM / 2 months ago

Russia's Mechel says received another offer regarding Elga project

MOSCOW, Jan 21 (Reuters) - Russia's steel and coal producer Mechel said on Tuesday it had received an alternative offer regarding the Elga coal project, resulting in it not buying a stake in the project from Gazprombank.

Gazprombank said on Tuesday Mechel had failed to exercise its pre-emptive right to buy the bank's 34% stake in the project.

Mechel said time was needed to study the new offer, providing no further details. (Reporting by Anastasia Lyrchikova; writing by Anton Kolodyazhnyy; Editing by Kim Coghill)

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