Evraz, Credit Suisse buy Highveld stake from Anglo American

Russia's Evraz Group has reached an agreement to buy 24.9 percent of Highveld Steel and Vanadium Corporation Limited (South Africa) from Anglo American. Switzerland's second largest bank Credit Suisse Group is acquiring the same sized stake in the company. Evraz has an option to increase its stake in Highveld once regulatory approvals are received, if passed, Evraz will be entitled to purchase Anglo American's remaining 29.2 percent shareholding as well as the 24.9 percent holding of Credit Suisse through separate option agreements.