Evraz announces it will not participate in Krivorizhstal privatisation
Moscow, October 13, 2005 - Evraz Group S.A. (LSE: EVR), one of the leading vertically integrated steel production and mining businesses with operations mainly in Russia, today announces that it will not participate in the Krivorizhstal privatisation tender.
Following detailed analysis of this investment opportunity, Evraz has concluded that acquisition of Krivorizhstal would not meet its demanding criteria to generate returns and to create value for the shareholders.
Evraz will continue to be focused on alternative opportunities, including both greenfield and brownfield investments in its mining assets, further acquisition of downstream assets, as well as return driven capital expenditures, that are currently available to the Group primarily in Russia.
The Group believes in the long-term prospects for the Ukrainian economy and remains interested in this market, should further opportunities arise.
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