Russian Steelmaker Makes $1.5 Billion China Deal

In its first Asian acquisition, Russian steel producer Evraz Group will acquire 51% of China's Delong Holdings, triggering a tender offer to minority shareholders

Russian steel producer Evraz Group will acquire 51% of China's Delong Holdings for S$1.08 billion ($765 million), triggering an offer to the residual minority shareholders. Assuming that all shareholders tender their shares and all outstanding warrants are exercised, Evraz's total outlay on the deal will be $1.49 billion.

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