ACQUISITION OF 100% IN LLC ZAPADNYE VOROTA

RNS Number : 1409X

Evraz Plc

25 April 2019

 

ACQUISITION OF 100% PARTICIPATION INTEREST IN LLC ZAPADNYE VOROTA

EVRAZ plc ("EVRAZ", the "Company" and together with its subsidiaries, the "Group") announces today that it acquired 100% interest in LLC Zapadnye Vorota in order to consolidate ownership to a non-residential technical unit in building A and lease rights to the land at "Zapadnye Vorota" business complex in Moscow, Russia  ("Transaction").

Transaction Highlights

EvrazService, the fully owned subsidiary of the Company, purchased 99.9998% of participation interest in LLC Zapadnye Vorota from Cybersun Limited for RUB 25,616,949 (around US$400,000).

SIBMETINVEST, the fully owned subsidiary of the Company, purchased 0.0002% of participation interest from Mr. Galaktionov for RUB 10.00 (around 16 cents).

Purchase price of US$400,000 is a fair market price and based on the results of the independent valuation prepared by LLC American Appraisal.

Pursuant to UK Listing Authority ("UKLA") Listing Rule 11.1.4R, Cybersun Limited is classified as a related party of EVRAZ, due to its direct shareholders also being substantial shareholders in the Company. The Transaction constitutes a smaller related party transaction as defined under UKLA Listing Rule 11.1.10R and EVRAZ has accordingly obtained a written confirmation from a sponsor that the terms of the Transaction are fair and reasonable as far as shareholders of EVRAZ are concerned.

For further information:

Media Relations:

London: [phone]        

Moscow: [phone]

[e-mail]

Investor Relations:

London: [phone]        

Moscow: [phone]

[e-mail]

 

END

 

 

ACQCKPDPNBKDCQB