The structures of Gazprombank and Dmitry Bakatin sold a 29.9% stake in the iron ore IRC company Axiomi Consolidation Ltd to Nikolai Levitsky. Gazprombank sold its 24.1% stake for $ 76.8 million, and Mr. Bakatin received $ 19.2 million for 5.8%, the press service of Axiomi Consolidation Ltd. said in a statement. In total, the IRC package went for $ 96 million. Nikolay Levitsky is the former owner of the oilfield services company Geotech.
“We highly appreciate the potential of IRC Limited, taking into account the existing favorable conditions on the raw materials markets. Over the past few years, the company has established itself as a stable partner and reliable supplier for Russian and foreign clients, and has demonstrated solid financial results in 2021. The acquisition of a block of shares in IRC Limited is a promising investment, and we are open to fruitful cooperation with other shareholders and partners of the company in the framework of the further development of the asset, ”Nikolai Levitsky said in a press release.
IRC is the only iron ore producer in the Russian Far East. The main asset is OOO Kimkano-Sutarsky GOK (KS GOK, Jewish Autonomous Region). The annual production capacity of the first stage of the GOK compressor station is 3.2 million tonnes of iron ore concentrate with 65% iron content. The structures of Gazprombank and Dmitry Bakatin acquired a block of shares in the company in early December for $ 32.7 million. The seller was the little-known Stocken Board, which at that time owned IRC shares for less than a week.
Read more about this in the publication of “Kommersant” “Gazprombank made an ore choice.”
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