Evraz Group S.A. completes acquisition of Vitkovice SteelMoscow, November 15, 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 the completion of the acquisition of 98.96% of the shares of Vitkovice Steel, the largest platemaker in the Czech Republic, for approximately ?240 million.
The acquisition is in line with Evraz Group’s stated strategy to achieve growth through focused acquisitions
The acquisition was financed by a combination of debt and cash. The debt finance was provided by a bank consortium led by ABN AMRO N.V. and Commerzbank. OSINEK a.s., a 100% subsidiary of the National Property Fund of the Czech Republic, acted as the seller. ABN AMRO N.V. served as a financial advisor.
Commenting, Alexander Abramov, Evraz Group Chairman and Chief Executive Officer, said, “We are very pleased with the completion of the acquisition of Vitkovice Steel, one of the largest steel enterprises in the Czech Republic. We believe that the integration of Vitkovice Steel into Evraz Group will contribute to its development into a world—class business.”
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