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Provider: Reuters Investment Profile
Provider: Thomson Reuters StreetEvents
Provider: Thomson Reuters Stock Report

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EVRAZ plc Proposes Sale Of 85% Stake In Evraz Highveld Steel And Vanadium Limited

Wednesday, 27 Mar 2013 12:49pm EDT 

EVRAZ plc announced the signing of a non-binding term sheet in respect of the proposed sale of its 85% stake in EVRAZ Highveld Steel and Vanadium Limited (EVRAZ Highveld) to Nemascore (Pty) Ltd, black economic empowerment consortium, for an indicative cash consideration of approximately USD320 million (the Transaction). EVRAZ will utilise the sale proceeds for general corporate purposes. EVRAZ Highveld is a vertically integrated iron ore steel and vanadium slag producer. Steel and vanadium slag are produced at the integrated steelworks situated in eMalahleni, Mpumalanga with ore for the steelworks obtained from the Mapochs Mine in the Roossenekal area, Limpopo. 

Company Quote

-1.7 -1.77%
3:44am EDT