PAO Severstal: Severstal closes the agreement of disposal of Vorkutaugol to Russkaya Energiya (1340235)
April 29 2022 - 10:34AM
UK Regulatory
PAO Severstal (SVST) PAO Severstal: Severstal closes the
agreement of disposal of Vorkutaugol to Russkaya Energiya
29-Apr-2022 / 17:34 MSK Dissemination of a Regulatory Announcement
that contains inside information according to REGULATION (EU) No
596/2014 (MAR), transmitted by EQS Group. The issuer is solely
responsible for the content of this announcement.
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Severstal closes the agreement of disposal of Vorkutaugol to
Russkaya Energiya
April, 29, 2022 - PAO Severstal announces that it has completed
the sale of its coking coal assests, AO Vorkutaugol
("Vorkutaugol"), to OOO Russkaya Energiya. The deal is valued at
RUB 15 billion.
The deal has received the relevant permits from the Federal
Antimonopoly Service of the Russian Federation.
As was reported earlier, the sale of Vorkutaugol will allow
Severstal to focus on delivering its strategy to develop its steel
and iron ore assets in line with Company's vision of the industry's
future and to reduce its carbon footprint.
At the same time, Severstal confirms that the company will
remain a key consumer of Vorkutaugol coking coals. The terms of the
agreement with the buyer include a long-term offtake contract
guaranteeing Severstal's supply of raw material. The corresponding
agreement has been also signed today.
Notes:
AO Vorkutaugol is one of the largest coal mining companies in
Russia. It accounts for about 11% of the country's coking coal
production. Vorkutaugol operates in the Pechora coal basin, which
is a large raw material base for the metallurgical, coke-chemical
and energy industries. The Vorkuta geological-industrial region has
the largest coal reserves in Europe (about four billion tonnes).
The company consists of five underground mines, one open pit mine
and several auxiliary enterprises. Vorkutaugol delivered 8.8
million tons of production in 2021, including 3.9 million tonnes of
coal concentrate. Vorkutaugol employs around 5,900 people.
For further information, please contact:
Severstal Investor Relations
Vladimir Zaluzhsky, Nikita Klimantov
T: +7 (495) 926-77-66
vladimir.zaluzhsky@severstal.com; na.klimantov@severstal.com
Severstal Public Relations
Anastasia Mishanina
T: +7 (495) 926-77-66
anastasia.mishanina@severstal.com
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ISIN: US8181503025
Category Code: DIS
TIDM: SVST
LEI Code: 213800OKDPTV6K4ONO53
OAM Categories: 2.2. Inside information
Sequence No.: 0
EQS News ID: 1340235
End of Announcement EQS News Service
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April 29, 2022 10:34 ET (14:34 GMT)
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