Evraz Group started selling some assets of Highveld Steel and Vanadium Corporation Limited in accordance with the regulations imposed by the European Commission and the antimonopoly watchdogs of the Republic of South Africa, the spokesperson for Evraz Group reports.

These assets are expected to be acquired by some large steel and vanadium producers as well as private investors. The antimonopoly authorities insist that the buyer should have no connection with either Evraz or Highveld whatsoever and should not depend on either of the two. Then, the buyer must have finances, expertise and work experience and be motivated to retain and improve on the assets they are buying, making them competitive against Evraz and other market players. Finally, this buyer should be totally reliable in the eyes of the antimonopoly bodies, make sure the transaction is completed in due time, and get all the permits needed to acquire the assets.

Evraz is using the counseling services provided by Standard Bank of South Africa to complete the selling process.