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Reports: Sberbank hopes Gazprombank will agree on Mechel debt deal by April

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Reports: Sberbank hopes Gazprombank will agree on Mechel debt deal by April

PAO Sberbankof Russia First Deputy Chairman Maxim Poletaev said April 5 thatthe lender hopes to reach an agreement with fellow creditor on debt restructuringfor embattled Russian coal miner Mechel OAO by April, Reuters reported the same day.

Mechel offered Gazprombank an option to acquire a 49% stake inMechel's Elga coal project. Proceeds from the sale would be used to repay debtsto Sberbank.

Poletaev also hopes that Sberbank CIB will be chosen as the global coordinatorfor the privatization of oil firm Bashneft, according to a separate Reutersreport.

He made the statement a day after the Russian economyministry announced the selection of Sberbank CIB as the organizer of theprivatization of diamond miner PJSC ALROSA and VTB Capital Plc as organizer of the privatization ofBashneft, the newswire noted.