U.K.-based mining giant Evraz, which operates mainly in Russia, has signed a deal to sell a facility in Ukraine to group DCH for $106 million, the company said in a statement on March 1.
The payments will be made in several tranches with the initial $25 million payment to be made five days after signing the sales agreement. The remaining amount will be disbursed no later than on December 15.
The funds from the deal will be allocated for general corporate purposes.
Evraz CEO Alexander Frolov said that the company planned to sell its facility in the city of Dnipro.
He said that Evraz earlier sold an ore asset Sukhaya Balka and a coke chemical plant Yuzhkoks.
Frolov said, “Our strategy says that we will continue to quit Ukrainian assets when there are good opportunities but I would not mention exact forecasts.” (Prime/Ukrainian metal)