Siberian Coal Energy Co., with plans for an initial public offering in London, will buy back an almost 10 percent stake from billionaires Andrei Melnichenko and Sergei Popov in a deal valuing the company at about $8 billion.
Russia's largest power-station coal producer will pay 23 billion rubles ($810 million) for 9.84 percent, according to a statement by SUEK, as the company is known. The deal values the business at $8.3 billion.
SUEK will probably delay its IPO a second time as investor demand failed to reach its target valuation of $8 billion, two people with knowledge of the sale said May 17.
(Bloomberg)
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