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APR 22, 2013 - Business Insider

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This NYSE-Listed Metal & Mining Company Is Basically Owned By The Kremlin (MTL)

Igor Zyuzin is almost entirely dependent on the Russian government for the solvency of his Mechel steelmaking and coalmining group. With between $9 billion and $10 billion in debt, Zyuzin, who owns 65.49% of Mechel’s shares and controls the company as chairman of its board, is now the steel and coal sector’s most heavily indebted proprietor. If not for a series of cash loans, bond purchases and guarantees from state-controlled banks – Sberbank, VTB, Gazprombank, Eurasian Development Bank (EDB), and Transcreditbank – he would be bankrupt. That is, Mechel, with a ... Read More

Tags: This NYSE-Listed Metal & Mining Company Is Basically Owned By The Kremlin (MTL),  Royal Bank Of Scotland Latest News