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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Evraz Plc | LSE:EVR | London | Ordinary Share | GB00B71N6K86 | ORD USD0.05 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 82.68 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Bitmns Coal Undergrnd Mining | 14.16B | 3.03B | 2.0799 | 0.40 | 1.21B |
TIDMEVR
RNS Number : 4416G
Evraz Plc
26 May 2017
EVRAZ PLC enters into agreement to dispose of EVRAZ Sukha Balka
26 May 2017 - EVRAZ plc (LSE: EVR) ("EVRAZ" or the "Company") announces today that its fully owned subsidiary Evraz Group S.A. signed an agreement to dispose of the entire issued share capital of Kadish Limited (a holding company of EVRAZ Sukha Balka ("ESB")) to BERKLEMOND INVESTMENTS LTD (a company of the DCH Group) for US$110 million of gross consideration, adjustable for the actual level of ESB's working capital and debt ("Transaction"). The Consideration will be payable in several instalments: an initial US$25 million payable within two business days after signing of sales and purchase agreement, with the rest to be paid by 31 December 2017.
The Transaction proceeds will be applied to general corporate purposes including, but not limited to reduction of the outstanding indebtedness of the Company.
ESB ore enrichment plant is one of the leading Ukrainian enterprises specialising in iron ore underground mining. The annual production capacity of the plant is approximately 3.1 million tonnes of iron ore. In 2016 ESB mined over 2.5 million tonnes of lumpy ore. ESB has been a subsidiary of EVRAZ since 2007.
In 2016 ESB generated US$145 million of revenue from continuing operations. As of 31 December 2016, ESB had gross assets of US$238 million. For the year ended 31 December 2016, it produced a gross profit of US$25 million, US$26 million of EBITDA and a loss before tax from continuing operations of US$5 million.
The ESB employs just over 3400 people.
###
For further information:
Media Relations:
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
May 26, 2017 12:21 ET (16:21 GMT)
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