Do More With Reuters

Evraz says to buy up to 51 pct of Delong

Mon Feb 18, 2008 11:36pm IST
 
Email | Print | | Single Page
[-] Text [+]

(Refiles to fix duplicated "to" in headline)

LONDON, Feb 18 (Reuters) - Russian steel maker Evraz Group SA (HK1q.L: Quote, Profile, Research) said on Monday it was to buy up to 51 percent of Singapore's Delong Holdings Ltd (DELO.SI: Quote, Profile, Research) from Best Decade Holdings Ltd and its shareholders.

Evraz also said it would make a mandatory cash offer for the remaining Delong shares, and "the maximum consideration payable by Evraz will be approximately $1,494 million, assuming full acceptance of the mandatory offer". (Reporting by Dan Lalor, editing by Will Waterman)

Photo

Catch the latest news, pictures, stats and live race commentary on our special Formula 1 page.  Full Coverage