Russian leading steelmaker Evraz Group S.A., which has a share purchase agreement with to acquire up to 51% of Hong Kong-based Delong Holdings Limited concluded on February 18, 2008, announced August 18 that as the Anti-Trust Approval of China, the transaction has been subject to, has not been obtained and therefore the necessary condition of the agreement has not been satisfied, the Call Option and the Put Option under the agreement have lapsed and cease to have any further effect.
Evraz says it remains interested in developing its business in China and continues to consider various business opportunities.
Delong Holdings has a steelmaking subsidiary in Hebei province, Delong Iron and Steel producing 2.4 million tons per annum of hot-rolled steel products, etc. |
