Evraz in talks with several buyers to sell 85% in Highveld Steel

MOSCOW, Feb 21 (PRIME) -- U.K.’s steel and mining giant Evraz Plc, which operates mainly in Russia, continues negotiations on the sale of 85% in Evraz Highveld Steel and Vanadium Limited (EHV) with black economic empowerment consortium Nemascore, as well as with other potential buyers, the company’s spokesperson told PRIME Friday.

“We confirm that we are holding talks with other potential buyers for our stake in EHV, besides Nemascore. However, it does not mean that we or Nemascore exit the negotiation process,” he added.

In March 2013, Evraz has signed a non-binding agreement to sell its 85% stake in EHV to Nemascore for U.S. $320 million. Evraz Highveld is a vertically integrated iron ore steel and vanadium slag producer.

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