Sberbank has suspended the trial of “Mechel”

Sberbank has suspended the trial of “Mechel”


MOSCOW, February 16. Sberbank has suspended the trial with “a Mechel” during the discussions with the company’s debt restructuring. This was said at a press conference in Moscow by results of the Supervisory Board, Sberbank President German Gref.

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The savings Bank has reached preliminary agreements with “Mechel” of debt restructuring

Dvorkovich: the management of “Mechel” from the point of view of the savings Bank is not very flexible

“We have a preliminary agreement with “Mechel” is achieved, but there are a number of suspensive conditions, which at certain times we are required to comply, including the approval of all transactions with minority shareholders. If all be fulfilled, it is quite possible that the restructuring will happen. We have suspended all legal actions, i.e. the courts against the company”, – said Gref.

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The total amount of the restructured debt of “Mechel” of $5.1 billion