Evraz wins Vitkovice Steel tender

Evraz wins Vitkovice Steel tender

Russian steel producer Evraz Holding announced yesterday that it won the tender held for the privatization of Czech Republic's largest plate producer Vitkovice Steel (VS). The company offered CZK 7.05 billion (approx. $281 million) for the VS. Once the competition authorities approve the tender result, Evraz Group will acquire a 98.96 percent stake in VS and take control of the businesses within the next three months. This acquisition is a part of Evraz Holding strategy to strengthen its existence in the Central and the Eastern European markets.