Nicosia district court banned
selling, encumbering assets of 3 cos. owned by Mechel CEO and
shareholder Igor Zyuzin, Interfax news service reports, citing
May 20 court decision.
Cos. held ~67.4% of Mechel common shrs as of mid-April: Bloomberg calculations based on Interfax data
• Saven Enterprises co., owner of almost 23% of Tomusinsky coal mine which is controlled by Mechel, filed claim, seeks $781.4m from defendants: Interfax
• Defendants incl. Mechel Mining, Yuzhny Kuzbass, other Mechel units: IFX
• Mechel says claim is attempt at “corporate blackmail” to force co. to buy out minority shareholder, Mechel spokeswoman Ekaterina Videman tells Bloomberg News by e-mail
• Co. rejects all allegations; court to consider canceling asset freeze soon, no risks to daily activities: Videman
that's what some media are suggesting. The Idea now seems to give MTL to a consortium of Banks.
Questions remain ... How Much will current Shareholders be diluted? ... If that's the solution could be pretty painful!
Lol ... maybe ... you professor .. will address the meaning of Debt to Equity swap ...
so ... I highly advise you to attend next week lecture. Pippiboy
Sure ... Banks will own 99% of the Company ... AND remaining shareholders will be left with 1% ...
And trust me ... 1% won't be worth the current market Cap...
BUT hey ... Prof will explain it to you next week
The government can not protect the company.
During the meeting of May 30, 2014 at the presidential aide Andrei Belousov, it was decided that the fate of "Mechel" will solve the creditor banks. Also announced that the state will not be able to financially support the steel company experiencing difficulties in servicing the huge debt, the "Kommersant".
As previously reported, " Uralinformbjuro "in 2013, a net loss of" Mechel "RAS amounted to 27.8 billion rubles, compared with 19.2 billion in net profit in 2012. "Mechel" - the zakreditovannaya mining and metals company in Russia. Its net debt by April 2014 - 8.6 billion U.S. dollars. The company is struggling to cope with his service. In 2013, payments through bank loans amounted to 742 million dollars.
Bankers do not exclude the possibility of transition stake "Mechel" from the current owner to the new, which will contribute the necessary funds and improve the company's performance.
Translation for Pippi: "Current shareholders will be wiped out!" ...
and banks will hope new owners will "put in the money" ... to keep the company operating and save the value of the Loan.
Current Owners equity value will go to .. 0.0001...
pippi pippi ... arbitrage trading is probably on the 3rd week of this term. So ... attend your classes ... and ... you will know what I am doing here ...
Govt was expected to meet this week ... to decide on MTL state loan guarantee request.
Айрат Халиков , аналитик ИК "Велес Капитал".
Все больше факторов указывают на приближающуюся смену основного акционера "Мечела". Ранее мы неоднократно писали о том, что высокий уровень долга грозит компании потерей активов, в случае если банки решат объединиться против компании. Заявление зампреда правительства РФ Аркадия Дворковича о том, что правительство не будет вмешиваться в переговоры банков и "Мечела", которые могут привести к смене главного акционера компании, лишь подтверждают наши опасения.
Мы полагаем, что это заявление является сигналом для основных держателей долга компании (российских госбанков) приступить к борьбе за контроль на "Мечелом". Для держателей акций это может грозить принудительным выкупом акций "Мечела"
This behaviour is pointing to an imminent BK announcement! ...
Email the Company and ask them about the June 11 2014 PRESENTATION! ... they will confirm it to you! ...
Next PR will be about BK! ...
Simply because they are getting ready to File for BK! ... unfortunately that's what is going on IMO. ... otw the company should have already commented on the Price Activity!
Probably some Burocracy needed before being ALLOWED to file for BK. Investors are betting on a BK before June 21, 2014.
It's not about the S-3 ...it's about BK filing. Probably going to be filed in the next 15 days.
The S-8 was just a formality to the file for BK.