TIDMEVR

RNS Number : 3671G

Evraz Plc

01 March 2018

EVRAZ PLC enters into agreement to dispose of EVRAZ DMZ

1 March 2018 - EVRAZ plc (LSE: EVR) ("EVRAZ" or the "Company") announces today that its wholly-owned subsidiary FEGILTON LTD signed an agreement to dispose its entire share in DRAMPISCO LTD, a holding company of EVRAZ DMZ ("EDMZ") to SENALIOR INVESTMENTS LIMITED (a company of the DCH Group) for approximately US$106 million, adjustable for an amount of actual working capital and net financial debt of EDMZ and for fair value of the issued guarantees ("the Transaction").

The Consideration will be payable in several instalments: an initial US$25 million payable within five business days after signing of the sale and purchase agreement, with the rest to be paid not later than

15 December 2018.

The Transaction proceeds will be applied to general corporate purposes.

EDMZ located in Dnepr, Ukraine, is an integrated steel mill specialising in the manufacture and sale of pig iron, steel rolled products. In 2017 EVRAZ DMZ produced 1,019 thousand tonnes of pig iron, 918 thousand tonnes of crude steel and 785 thousand tonnes of steel rolled products.

In 2017 EDMZ generated US$586 million of revenue from continuing operations. As of 31 December 2017, EDMZ had gross assets of US$153 million. For the year ended 31 December 2017, it produced a gross profit of US$26 million, US$16 million of EBITDA and a profit before tax of US$1 million.

The EDMZ employs just over 4 thousand 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

MSCSSFSAFFASEID

(END) Dow Jones Newswires

March 01, 2018 03:53 ET (08:53 GMT)

Evraz (LSE:EVR)
Historical Stock Chart
From Jul 2024 to Aug 2024 Click Here for more Evraz Charts.
Evraz (LSE:EVR)
Historical Stock Chart
From Aug 2023 to Aug 2024 Click Here for more Evraz Charts.