Metalloinvest has acquired a 4% stake in miner Norilsk Nickel, The Moscow Times reports. The Russian iron ore and steel producer has paid around $2 billion for the stake.
The Moscow-based company borrowed $3.1 billion from banks, including BNP Paribas and Deutsche Bank in May and has spent more than 70% of it on Norilsk shares. Separately, Metalloinvest is seeking to buy the Moldova Steel Works in Transdniestria.
Click here for the story from The Moscow Times.
Click here for additional coverage from Reuters.