Evraz ready to buyout state's stake in ZTBD

The Russian Evraz Group, a steel production and mining business with operations mainly in Russia, has said it is ready to buy the government-owned stake in “Large Diameter Pipe Plant” (ZTBD) from the Russian Federal Property Fund (RFPF). The RFPF currently holds a 25 % +1 share stake in ZTBD, which it plans putting on sale next year. Evraz has already increased its stake in the plant by purchasing an additional 30.1 percent of shares in ZTBD from Duferco, via Evraz group subsidiary NTMK. If Evraz succeeds in buying the government-owned stake in ZTBD, it will end up holding an 80.1 percent stake in the plant, leaving 19.9 percent to GazProm.