Evraz Group | 07 March 2007 г. | 12:50

Evraz commences disposal of Highveld selected assets

Evraz Group S.A. announces that Evraz has formally commenced the process of disposing of some of the selected assets of
Highveld Steel and Vanadium Corporation Limited ("Highveld") in accordance with Evraz's commitments to the European Commission and the South African Competition
Tribunal.

Prospective purchasers are expected to include established vanadium industry participants, other steel industry players and private equity investors. The competition authorities require that the ultimate purchaser must:
• be independent of and unconnected to Evraz and Highveld;
• have the financial resources, proven expertise and incentive to maintain and develop the divested business as a viable and active competitive force in competition with Evraz and other competitors; and
• neither be likely to create competition concerns nor give rise to a risk that the implementation of the divestiture will be delayed, and must, in particular, reasonably be expected to obtain all necessary approvals from
the relevant regulatory authorities for the acquisition of the divested assets.

Evraz has appointed Standard Bank of South Africa Ltd to advise on the divestiture.

Source: Metal Supply and Sales
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