As reported back in June Roman Abramovich, Russia’s richest man, has completed his intended purchase of shares in Evraz, which is Russia’s largest steel producer. The owner of Chelsea football club who is reported to be the 11th richest man in the world, sold his shares in Oil company Sibneft less than a year ago.
Evraz has three steel plants in Siberia that together produced 14 million tonnes in 2005. Last year the company bought the Czech Republic’s stake in the steelmaker Vitkovice. Along with Credit Suisse Evraz is in the process of buying South Africa’s second largest Steelmaker Highveld Steel & Vanadium, from Anglo American.
Some analysts have speculated that Evraz may prove to be the force that will eventually unify the Russian Steel Industry.
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