(Alliance News) - Evraz PLC on Thursday announced that its board has given the green light to move forward in its preparations for the potential demerger of its coal assets.
The blue-chip Russian steelmaker urged, however, that there can be no assurance that the demerger will take place.
All the company's coal assets sit under its subsidiary, PJSC Raspadskaya PAO, listed on the Moscow Exchange.
"Evraz is committed to maximising value for its shareholders and the board believes the potential demerger of Raspadskaya could create significant long-term value by allowing each business to pursue dedicated strategic, capital allocation and environmental, social & corporate governance objectives," Evraz said.
Evraz shares closed 2.2% lower at 610.80 pence each in London on Thursday.
By Greg Roxburgh; gregroxburgh@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Evraz (EVR)