CEO: VEB has no plans to buy Raspadskaya but may finance purchase

MOSCOW, Jul 14 (PRIME) — Russias state-owned Vnesheconombank (VEB) does not plan to buy a stake in Russian coking coal producer Raspadskaya, but may provide financing to a potential investor, VEB CEO Vladimir Dmitriyev told reporters late Wednesday.

Dmitriyev said that potential buyers have applied to VEB for financing, without elaborating.

The statement follows media reports on Tuesday that VEB was to buy an 80% stake in Raspadskaya for about U.S. $5.3 billion.

At present, an 80% stake in Raspadskaya is held by Russias Evraz Group and Raspadskayas management, which decided to sell their stakes earlier this year after a number of deadly methane explosions at the companys main mine in May 2010.

Raspadskaya is the largest coking coal producer in Russia. The companys major mine did not operate in MayDecember 2010 following the explosions.


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