Mechel seeks antitrust approval for joint ownership in Ruse power plant

The Swiss-registered Mechel International Holding, owned by Russia ’s mining and metal company Mechel, has asked the state antitrust watchdog to permit joint ownership in the power and heating plant in the country's fifth largest city of Ruse , a note on the website of the regulator reads. The privatisation agency officially transferred the ownership in the power plant to Holding Slovenske Elektrarne (HSE) two months ago after receiving all payments agreed for the deal. The price for the full stake in the plant is set at EUR 85.1mn but 10% of the shares are paid in compensation notes traded at about 40% of their face value at the yesterday’s session of the local bourse. HSE was reportedly negotiating for reselling a minority stake of up to 49% to Mechel. The contract is expected to influence the production, the transport and the distribution of heating in the region of Ruse .