Russian steelmaker Novolipetsk Steel will sell their stake in Kombinat KMA Ruda. The company will sell the 92.04 percent stake for a price tag of US$300 million. The stake will be sold to 2 different companies with OJSC "KOKS" buying a 60 percent stake for US$195.5 million while a 30 percent stake will be sold to Lesser Enterprises Limited Company for US$104.5 million. The transaction is expected to be completed by end of this year with the approvals and is still pending approval from State Regulatory Authorities. Novolipetsk Steel is looking to focus more on their core business with the restructuring of their assets. (Aug. 17)