Evraz acquires stake in coking coal company
Evraz Group S.A., one of Russia's leading vertically integrated steel production and mining businesses, announced yesterday (December 8) that it had signed an acquisition agreement with Crosland Limited. The agreement covers the acquisition of 50 percent stake in Joint Stock Company Yuzhkuzbassugol, a leading Russian coking coal producer, for $675 million. The acquisition will be financed by Evraz Group's own funds and the proceeds of the recent Eurobond issue.