Business
ACQUISITION OF 100% IN LLC ZAPADNYE VOROTA
ACQUISITION OF 100% IN LLC ZAPADNYE VOROTA.
About this update from Evraz Plc
[{"type":"text","content":"\n \nRNS Number : 1409X Evraz Plc 25 April 2019 \n\nACQUISITION OF 100% PARTICIPATION INTEREST IN LLC ZAPADNYE VOROTA \nEVRAZ plc (\"EVRAZ\", the \"Company\" and together with its subsidiaries, the \"Group\") announces today that it acquired 100% interest in LLC Zapadnye Vorota in order to consolidate ownership to a non-residential technical unit in building A and lease rights to the land at \"Zapadnye Vorota\" business complex in Moscow, Russia (\"Transaction\").\nTransaction Highlights\nEvrazService, the fully owned subsidiary of the Company, purchased 99.9998% of participation interest in LLC Zapadnye Vorota from Cybersun Limited for RUB 25,616,949 (around US$400,000).\nSIBMETINVEST, the fully owned subsidiary of the Company, purchased 0.0002% of participation interest from Mr. Galaktionov for RUB 10.00 (around 16 cents).\nPurchase price of US$400,000 is a fair market price and based on the results of the independent valuation prepared by LLC American Appraisal.\nPursuant to UK Listing Authority (\"UKLA\") Listing Rule 11.1.4R, Cybersun Limited is classified as a related party of EVRAZ, due to its direct shareholders also being substantial shareholders in the Company. The Transaction constitutes a smaller related party transaction as defined under UKLA Listing Rule 11.1.10R and EVRAZ has accordingly obtained a written confirmation from a sponsor that the terms of the Transaction are fair and reasonable as far as shareholders of EVRAZ are concerned.\n \nFor further information:\nMedia Relations:\nLondon: +44 207 832 8998 \nMoscow: +7 495 937 6871\[email protected]\n \nInvestor Relations:\nLondon: +44 207 832 8990 \nMoscow: +7 495 232 1370\[email protected]\n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com. END ACQCKPDPNBKDCQB\n ","length":3362,"tagName":"div"}]