Russian Steelmaker Evraz Puts North American Assets Up for Sale
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Evraz Plc, a steelmaker backed by sanctioned Russian billionaire Roman Abramovich, has put its North American business up for sale.
The London-based steelmaker is “soliciting proposals for the acquisition of its North American subsidiaries,” according to a statement. Evraz, which was sanctioned by the UK after Russia’s invasion of Ukraine, received a general license from the UK’s Office of Financial Sanctions Implementation allowing it to proceed with the solicitation process. Any transaction will require approval from sanctions authorities, in addition to regulatory and corporate approvals.