DTEK looks to sell Russian coal assets

According to Ukraine-based DTEK’s CEO Maxym Tymchenko, the energy firm is planning on the sale of coal assets in Russia.

The company is looking to divest its stake in OJSC Obukhovskaya Colliery Group and OJSC Don-Anthracite (Rostov region, Russia).

Proceeds from the sale would be utilised towards reducing its debt of c.$436 m.

Previously, DTEK was negotiating with lenders to restructure its debt. 

Mr. Tymchenko said that coal production by the company’s assets in Russia in 2016 will be around 2.6m tonnes of coal. The company seeks to sell 60% of coal in Russia and the rest of coal in Europe.

Source: Interfax

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