L.oyun-erdene Reports on Fundraising Scheme for Erdenet's 49% Stake Deal
Head of the Cabinet Secretariat L.Oyun-Erdene held a press conference about the privatization of Erdenet Mining Corporation (EMC) on Monday at the State Palace.
Mongolian Copper Corporation (MCC) bought 49 percent of EMC from the government of Russia and Russia's state-owned Rostec Corporation in 2017.
L.Oyun-Erdene reported on how MCC raised funds to buy the 49 percent EMC stake.
He highlighted that MCC had paid 400.27 million USD to buy the 49 percent stake of EMC, but MCC took 72.4 percent of the funding from state funds...
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