Mechel signed the final agreement to buy the U.S. privately-owned company on April 22.
The $436 million sum includes $36 million in interest payments, Mechel's $83.3 million-worth of preferred shares, plus the obligation to pay off around $132 million in company debts.
However, the deal does not include other businesses run by the owners of Bluestone Coal Corp., which include steam coal operations in Kentucky and non-coal activities.
As part of the deal the parties are expected to float preferred shares as soon as the market conditions are favorable.
Bluestone, a New York-traded company controlled by billionaire Igor Zyuzin, produced 2.8 million metric tons of hard coking coal in 2008, with total sales of some $327 million.
Mechel is one of the Russia's leading companies, uniting producers of coal, iron ore, concentrate, nickel, steel, rolled products, hardware, and thermal and electric power.
Add to blog
You may place this material on your blog by copying the link.
August 22 marks 110th anniversary of the birth of Deng Xiaoping, the architect of reforms in the People’s Republic of China. His role in shaping the history of modern China is difficult to overstate. His Chinese model is too specific to be copied in other countries, such as Russia.