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EVR Evraz Plc

82.68
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

Evraz Plc Transaction announcement (4416G)

26/05/2017 5:21pm

UK Regulatory


Evraz (LSE:EVR)
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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

MSCSEUFMMFWSEFI

(END) Dow Jones Newswires

May 26, 2017 12:21 ET (16:21 GMT)

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