PJSC Chelyabinsk Zinc Plant on Dec. 22 said it has received a mandatory offer from Ural MMC to acquire 2,402,507 shares of the former at 681 Russian rubles apiece.
The company will have 75 days to accept or reject Ural MMC's offer. The buyer already owns 95.57% of Chelyabinsk Zinc.
Chelyabinsk Zinc produced 89,733 tonnes of salable, special, high-grade zinc and zinc-based alloys in the first half of 2016, a 2.2% increase over the year-ago half, while its net profit fell 41%, to 1.86 billion rubles.
As of Dec. 21, US$1 was equivalent to 61.14 Russian rubles.