14
Aug
01:00
Evraz sells key stake in Highveld, but keeps control
Evraz has agreed to sell 34% in Evraz Highveld Steel & Vanadium for R289 million ($27.4m) to Macrovest 147, a local empowerment partner. The Russian owner had hoped to divest its full 85%-holding in the South African company, but this deal means it retains 51% control.
Macrovest has agreed to refinance 50% of the outstanding working capital facility provided by Evraz, the latter tells Kallanish.
The vertically-integrated producer is South Africa&rsquo…
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Anonymous
Very good overview of the weekly steel market.
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