Evraz has signed an agreement to sell Evraz Nakhodka Сommercial Sea Port to the basic shareholder of the company, Lanebrook Limited, the beneficiary of which is famous Russian billionaire Roman Abramovich, the company said.
The deal is estimated at for $354,4 million. It is noted that within the framework of the transaction, an agreement on transshipment has been made, under which Evraz undertakes to deliver cargoes, while the Nakhodka port to handle them in a certain volume and on certain tariffs within five years.
The port will allow the company to focus on its core activities, abandoning non-core assets, and the proceeds will be used to improve the financial situation of the company, in particular, to reduce the debt.
