Sberbank has offered to restructure Russia-based quarry operator Pavlovskgranit’s €121million loan in return for a 51% share in the business with a buyback option. The company has said that it has produced 3.8million m3 of aggregates in the first nine months of this year compared to 2.9million m3 in the same period last year but experts have warned profits are likely to be lower in 2010 due to debt levels. Pavlovskgranit has said that it is currently looking into other refinancing options and is in negotiat
Sberbank has offered to restructure Russia-based quarry operator Pavlovskgranit’s €121million loan in return for a 51% share in the business with a buyback option.
The company has said that it has produced 3.8million m3 of aggregates in the first nine months of this year compared to 2.9million m3 in the same period last year but experts have warned profits are likely to be lower in 2010 due to debt levels. Pavlovskgranit has said that it is currently looking into other refinancing options and is in negotiations with other banks.
