Support The Moscow Times!

VTB Acquires Stake in Miner

VTB said it had acquired a 20 percent stake in iron ore miner Metalloinvest.

The deal is valued at about $2.5 billion, according to a press release issued by law firm Dewey & LeBoeuf, which said it advised on the deal.

Vedomosti had reported that VTB was set to buy the stake from minority shareholder Vasily Anisimov after agreeing to cancel his more than $1.5 billion debt. Anisimov has been trying to unload the stake for some time, and in March reports appeared in the local press that Sberbank could pay $2.5 billion for it.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.