Steelmaker Evraz scraps demerger of coal assets after Russia sanctions (updated)

Evraz

01/04/2022 12:16

(Adds details, background)
    April 1 (Reuters) - Evraz  EVRE.L , the Russian steelmaker
whose biggest shareholder is Roman Abramovich, will not proceed
with the separation of its coal assets, it said on Friday,
citing sanctions on the country following the Ukraine invasion. 
    The London-listed company said the "unprecedented" sanctions
against Russia were "outside of (its) control". 
    The move comes after Evraz had indefinitely suspended the
demerger of its coal assets, consolidated under PJSC Raspadskaya
(RASP), last month.  urn:newsml:reuters.com:*:nL5N2VO4GH   
    Evraz said its shares would continue to hold interest in
RASP when trading of its shares is restored.
    Index provider FTSE Russell in March said it would delete
four Russia-focussed companies including Evraz from all FTSE's
indexes, after many brokers refused to trade their shares.
 urn:newsml:reuters.com:*:nL5N2VH1CT
    Britain imposed sanctions on Russian oligarch Abramovich,
the owner of Chelsea soccer club, on March 10, freezing his
assets and preventing him from travelling to the country.
 urn:newsml:reuters.com:*:nL5N2VD2M8



 (Reporting by Shanima A in Bengaluru; Editing by Shinjini
Ganguli)
 ((shanima.a@thomsonreuters.com; (Direct: +91 77 6034 7399 );))