Statement Regarding Equity Stake in Raspadskaya
6 October 2011 – Further to its statement of 11 March 2011, EVRAZ Group S.A. (LSE:EVR) ("EVRAZ") announces that due to high market volatility EVRAZ has discontinued ongoing negotiations on the potential sale of its 40% indirect equity stake in the Russian Coal producer OAO Raspadskaya (RTS, MICEX: RASP).
“Raspadskaya is a good quality asset and one of the best coking coal producers in Russia”, commented CEO of EVRAZ Alexander Frolov. “EVRAZ is fully supportive of the managing shareholders of Raspadskaya in the implementation of the Raspadskaya mine restoration programme and is confident that this programme will realise the full fair value of the asset. We consider the likelihood of us disposing of our stake in Raspadskaya over the next 12 to 18 months as low for the reasons already stated, although we do not rule out this possibility in the long term”, he added.
For further information:
VP, Corporate Communications
+7 495 937 6871
Director, Investor Relations
+7 495 232 1370