Rostec to sell shares in two joint ventures to Mongolia
Edited by Rhod Mackenzie / 2016-06-28 05:48:52
State-owned corporation Rostec will sell 49% in the joint ventures of Erdenet and Mongolrostsvetmet to the Mongolian side, RT Business Development, investment holding company of Rostec, reports. The agreement for the sale was signed on Tuesday.
The transaction value isn’t specified, but RT Business Development calls the received amount "the largest one-time receipt of funds in the history of Rostec".
Earlier, the Bloomberg reported that Rostec could get $500 million for the Mongolian assets.
