IUD confirms sale of 50%+2 stake to Russian investors

The Industrial Union of Donbas sold a 50%+2 stake to a group of Russian investors led by former Evraz shareholder Alexander Katunin, local media sources report. The transaction was financed by Russian state-owned bank Vnesheconombank. Reports indicated that Russian Prime Minister Vladimir Putin, chairman of Vnesheconombank’s supervisory board was personally involved in the deal. IUD is a metals & mining holding company that includes Alchevsk Iron & Steel (UX: ALMK UK), Alchevsk Coke (UX: ALKZ UK) and DMK Dzerzhinskogo Steel (UX: DMKD UK).