Evraz commences tender offers to buy out VGOK and NMTP minority stakes
March 1, 2007 – Evraz Group S.A. (LSE: EVR) announces that its affiliated company OOO Sibmetinvest commences cash tender offers to purchase 5.000346% and 5.5896% of outstanding shares of common stock of VGOK and the Nakhodka sea port (“NMTP”), respectively.
Sibmetinvest which itself and through its affiliated companies holds 94.99965% of VGOK share capital, has made an offer to VGOK minority shareholders to tender the remaining 5.000346% of VGOK outstanding shares for a cash consideration of 5.83 roubles per ordinary share or an aggregate price of approximately 227.4 million roubles.
Sibmetinvest has also made an offer to NMTP minority shareholders to purchase 5.5896% of NMTP common stock for 33.00 roubles per share or an aggregate price of approximately 82.8 million roubles. At present Sibmetinvest owns 94.41036% of NMTP share capital.
The tender offers commence on March 2, 2007 and will be valid for 70 days.
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For further information:
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