Major beneficiaries of OJSC SUEK have agreed on changes in ownership stakes

In accordance with this agreement, it is envisaged that STI's stake in the capital of SUEK will be reduced to a level below the blocking stake.
In connection with this deal Sergey Popov said: "In the course of the past ten years I have been happy to take part in the creation and the development of SUEK. I am pleased with the achieved results: the company has a strong management team, highly qualified investors and clear plans for development. Going forward I am intending to focus my efforts on the strategic development of MDM Bank.
Andrey has demonstrated huge success in construction of world-class industrial companies and, therefore. I will remain a long-term investor in SUEK being absolutely confident that its business will continue to be successfully developing".
Andrey Melnichenko also said: "I fully understand the decision of Sergey Popov to concentrate on the development of the MDM's business.
SUEK has become such a strong company as it is today to a large extent thanks to Sergey's strategic vision. We are grateful to him for his contribution and I am very glad that he will remain an investor supporting the company".