The Board of EVRAZ has given approval for the Company to consider the strategic merits of and possible structures for a potential demerger of its coal business. The Potential Demerger may allow EVRAZ to focus on developing its steel business and establish the coal business, currently consolidated under PAO Raspadskaya, as an independent leading regional producer of high quality metallurgical coal. The Board continues to evaluate various strategic options for the Company and there can be no assurances that the Potential Demerger will be undertaken. If undertaken, the Potential Demerger would be subject to regulatory, shareholder and other third-party approvals. The Board will keep shareholders updated as appropriate with further announcements.
The Board has engaged JP Morgan Securities plc, which conducts its UK investment banking activities as JP Morgan Cazenove and Citigroup Global Markets Limited as financial advisors and Linklaters LLP as a legal advisor to assist with the ongoing review of, and preparation for, the Potential Demerger.