Evraz eyes funding for N. America operations

Aug 27, 2014 | 07:06 PM | Michael Cowden

Tags  Evraz, Evraz North America, Alexander Frolov, Pavel Tatyanin, steel slab, Cowen & Co., Anthony Rizzuto, Michael Cowden

CHICAGO — Evraz Plc has no "immediate plans" to sell a stake in its North American operations, although it is mulling ways to raise funding to develop them, a top company executive said.

"We do not have any immediate plans whatsoever with respect to selling a stake in the company. These are our core assets, and we don’t have any plans to sell the business," Evraz senior vice president and head of international business Pavel Tatyanin said during an Aug. 27 earnings conference call.

Rumors of a potential sale, initial public offering or a potential partnership for the Russian steelmaker’s North American business surfaced in early July with a report from New York-based Cowen & Co. analyst Anthony B. Rizzuto Jr., although other sources had disagreed (amm.com, July 7). Evraz has denied the speculation that its North American operations might be on the sales block (amm.com, Aug. 11).....

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