Toplofikatzia Pleven EAD signed an agreement to acquire Toplofikatsia Rousse from Mechel International Holdings AG for €52.4 million on December 18, 2012. Out of total consideration, Toplofikatzia Pleven EAD will assume the accounts payable to Mechel Carbon for historical coal deliveries in amount of $18.8 million (€24.7 million). Toplofikatsia Rousse reported revenues of €44.1 million and EBITDA of €4.2 million in 2011.

The transaction is subject to approval by Bulgaria's Commission on Protection of Competition. The proceeds from the transaction will be used to repay Mechel OAO's debt. UniCredit Bank and VTB Capital plc acted as financial advisors and CMS von Erlach Henrici acted as legal advisor for Mechel OAO, parent of Mechel International Holdings.

The currency conversion have been made from www.oanda.com as on December 18, 2012.