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Russia’s Evraz mulls selling stake in US division — source

July 03, 2014, 17:23 UTC+3 MOSCOW
Evraz North America comprises several metallurgic companies and annually produces over 5 million tonnes of rolled stock
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© ITAR-TASS/Alexander Ryumin

MOSCOW, July 03, 17:03 /ITAR-TASS/. U.K.’s steel and mining giant Evraz, which operates mainly in Russia, is considering the possibility of selling a stake in its U.S. division Evraz North America to redeem the current debt, Bloomberg reported Thursday, citing several sources.

Evraz has not made a final decision on the matter yet, the sources said.

Evraz North America comprises several metallurgic companies and annually produces over 5 million tonnes of rolled stock.

As of late 2013, Evraz had the second largest debt among Russian metals and mining companies after Mechel. Its net debt was U.S. $6.534 million as of the end of 2013, according to the company’s financial report.

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