04
May
11:20
Evraz sells stevedoring subsidiary to reduce debt
Evraz has sold for $354.4 million its fully-owned Nakhodka Trade Sea Port stevedoring subsidiary to Lanebrook, majority owner in the Russian steelmaker with a 63.79% stake. Evraz has simultaneously agreed to tranship coal and metal cargoes through Nakhodka for a period of five years.
The transaction proceeds of $295m after taxes and fees will go towards reducing Evraz’s debt and improving its financial position. The deal also removes the risk to Evraz…
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Anonymous
Very good overview of the weekly steel market.
Anonymous