Evraz Plc Transaction announcement (3671G)
March 01 2018 - 3:53AM
UK Regulatory
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
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