Moscow firm becomes owner of two former Ukrainian DTEK coal miners - source

ROSTOV-ON-DON. June18 (Interfax) - A Moscow-based company called JSC Best Solution (Luchshee Reshenie) has acquired 100% of the shares of coal miners JSC Donskoi Anthracite and JSC Obukhovskaya Mine Management in Rostov Region, previously owned by the Cyprus-registered Fabcell Ltd., a source with knowledge of the situation told Interfax.

"The deal has been done, its details are not being disclosed," the source said.

The agency sent official requests to confirm transaction and its cost to Best Solutions, Donskoi Anthracite and Obukhovskaya Mine Management.

Russian President Vladimir Putin signed an order in January 2024 to allow the Moscow firm to acquire 100% of JSC Donskoi Anthracite and JSC Obukhovskaya Mine Management.

Ukrainian businessman Rinat Akhmetov's DTEK energy holding bought 100% of the shares of the Obukhovskaya and Donskoi Anthracite mines and 66.7% of Sulinanthracite LLC from Rostov Anthracite LLC in June 2012, for $39 million. These companies then merged with Donskoi Anthracite. Russia's Federal Antimonopoly Service approved an application from Cyprus-based Valleyton Investments Ltd. in August 2021 for the acquisition of control over the Russian DTEK assets.

President Putin on June 14 granted permission for Best Solution to acquire 100% of Kuznetsk Investment & Construction Company (Kuznetskinveststroy), a coal miner in Kemerovo Region, from Italy's Coeclerici Group.