23 May, 2016

Russian bank looking to dump Ukrainian mining and metal assets

Vnesheconombank (Russia), which controls some Ukrainian mining and metal assets which it acquired control of as a creditor, including Industrial Union of Donbas, has intensified the search for a buyer of these assets, the Kommersant newspaper reported, citing sources.

The newspaper said that VEB started taking real steps to sell assets after top managers in the bank were reshuffled in February 2016.

According to Kommersant, VEB has intensified the search for a buyer for mining and metals assets: Industrial Union of Donbas in Ukraine and Sibuglemet.

Source: Ukrainian journal