MMK Eyeing Stake in Iran’s Metallurgical Plant

TEHRAN (FNA)- Magnitogorsk Iron and Steel Works (MMK) has made an offer to Iranian metallurgical company of Esfahan on the purchase of a controlling stake in it, Chairman of the Russian steel company’s Board of Directors Viktor Rasnikov told journalists Thursday.

He did not reveal the amount of the deals, noting that the Iranian company was still reviewing the offer. The next round of talks on the acquisition is scheduled for April 2008.

Rashnikova also pointed out that MMK was looking into the possibility of purchasing mining assets in Iran, adding that it was quite logical to buy a metallurgical plant with mining assets.