Evraz eyes funding for N. America operations
Aug 27, 2014 | 07:06 PM
| 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 dont 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 steelmakers 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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