EVRAZ plc (LSE:EVR) made an offer to acquire remaining 49% stake in OAO GMK Timir from Open Joint Stock Company ALROSA (MICEX:ALRS) and Vnesheconombank for approximately $150 million on April 29, 2013. The offer will remain open until July 8, 2013.

A black economic empowerment consortium signed a non-binding term sheet to acquire 85% stake in Evraz Highveld Steel & Vanadium Ltd. (JSE:EHS) from EVRAZ plc (LSE:EVR) for approximately $320 million on March 27, 2013. A black economic empowerment consortium, Evraz Highveld Steel & Vanadium and EVRAZ plc have agreed upon a transition period during which EVRAZ will support the management of EVRAZ Highveld. The transaction is subject to standard due diligence procedures, ... the conclusion of a formal agreement and requisite regulatory approvals. If the transaction becomes unconditional, in compliance with the Companies Act, 2008, a mandatory offer will be made to all the remaining shareholders. The transaction is expected to be completed in the course of quarter two of 2013. EVRAZ will utilize the sale proceeds for general corporate purposes. On May 10, 2013, it was announced that the due diligence process for the sale of 85% stake in Evraz Highveld Steel & Vanadium has been commenced.
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