Abramovich gets rid of assets in Ukraine
The Evraz holding of oligarch Roman Abramovich is selling the iron ore mining and processing plant Sukhaya Balka, located in the Dnepropetrovsk region, for $110 million.
The buyer is the structures of Kharkov oligarch Alexander Yaroslavsky, who is among the top 10 richest businessmen in Ukraine according to Forbes.
Sukhaya Balka has been idle since September 2016 - the Ukrainian authorities did not renew the company’s ore mining license.
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The main consumers of Sukhaya Balka products are the enterprises of another Ukrainian oligarch Rinat Akhmetov.
The Kommersant newspaper notes that Abramovich’s structures are now completing a deal to sell another asset in Ukraine – Yuzhkoks. According to the publication, in the future Evraz may sell the Dnepropetrovsk Metallurgical Plant, as well as 50% of the shares of the Southern Mining and Processing Plant.
Evraz's revenue in 2016 was $7,7 billion. At the same time, the holding’s sales in Ukraine, taking into account the supply of coal and ore there from the Russian Federation, reached only $296 million.
Abramovich is divesting his assets in Ukraine.