OREANDA-NEWS. Evraz Group S.A. (LSE: EVR) ("Evraz") announces that Evraz has formally commenced the process of disposing of some of the selected assets of  Highveld Steel and Vanadium Corporation Limited ("Highveld") in accordance with  Evraz's commitments to the European Commission and the South African Competition Tribunal.

Prospective purchasers are expected to include established vanadium industry participants, other steel industry players and private equity investors. The  competition authorities require that the ultimate purchaser must:
   • be independent of and unconnected to Evraz and Highveld;
   • have the financial resources, proven expertise and incentive to maintain and develop the divested business as a viable and active competitive force in competition with Evraz and other competitors; and
   • neither be likely to create competition concerns nor give rise to a risk that the implementation of the divestiture will be delayed, and must, in particular, reasonably be expected to obtain all necessary approvals from the relevant regulatory authorities for the acquisition of the divested assets.

Evraz has appointed Standard Bank of South Africa Ltd to advise on the divestiture.

For further information interested parties can contact Sandra du Toit, Corporate and Investment Banking division, Standard Bank of South Africa Ltd, tel. +27 (0) 11 636 6216, Sandra.duToit@standardbank.co.za.