Russia's Evraz looking to sell North American units (updated)

Evraz

10/08/2022 16:25

(Adds details from statement, background)
    Aug 10 (Reuters) - Russian steel producer Evraz  EVRE.L 
said on Wednesday it was launching a process to solicit
proposals for the acquisition of its North American
subsidiaries.
    The sale will help unlock the value of its North America
business, the company said without disclosing details on the
sale process.
    Britain sanctioned Evraz in May in response to Russia's
decision to send thousands of its troops to Ukraine, but
provided a licence allowing business with Evraz's North American
subsidiaries.  urn:newsml:reuters.com:*:nL1N2ZG0CY
    "Recent geopolitical tensions have given rise to significant
corporate governance and operating challenges for Evraz," Chief
Executive Aleksey Ivanov said earlier this month.  urn:newsml:reuters.com:*:nL1N2ZG0CY
        

 (Reporting by Radhika Anilkumar in Bengaluru; Editing by Vinay
Dwivedi)
 ((Radhika.Anilkumar@thomsonreuters.com; +91 8067490824;))