Evraz Group purchased of a 29.2% stake in Highveld Steel from Anglo American

Evraz Group S.A. (LSE: EVR) announced the purchase of a 29.2% stake in Highveld Steel and Vanadium Corporation from Anglo American plc for US$238 million.

In an agreement announced on summer 2006, Evraz purchased a 24.9% stake in Highveld from Anglo American.

Thus, Evraz owns approximately 54.1% of all outstanding shares in Highveld and under South African law, Evraz is required to make a mandatory general offer to all shareholders of Highveld.