One of largest Russian mining and steel producers Evraz Group (Evraz) has announced that it has exercised its option to acquire a 24.9 percent stake in South African company Highveld Steel and Vanadium Corporation (Highveld) from Credit Suisse International for $219 million, thus raising its total stake in Highveld to 80.9 percent.
As SteelOrbis reported in early August, Evraz had announced that it intended to buy the remaining Credit Suisse International shares in Highveld, thus exercising its option to raise its stake in Highveld as outlined in the takeover agreement.