The company was founded as a small metal-trading business in 1992.[5] On 2 June 2005 Evraz Group floated some 8.3 percent of its shares in the form ofGDR inLondon.[6] The company was priced at $14.50 per GDR implying anequity value of $5.15 billion.[6] An additional 6% stake was placed in January 2006, resulting in a total free-float of 14.3%.[7]
The company acquired Claymont Steel fromH.I.G. Capital in 2008 forUS$564.8 million.[8] The mill was closed in December 2013.[9]
In 1998,Otari Arshba, who was aKGB officer and, later, was anFSB officer, became the director of public relations, and then he successively held the positions of vice president and senior vice president. Until March 2004, he was the chairman of the board of directors of the holding company according to aGordonua.com article.[10]
As of 2021, the Canadian unit of Evraz employed 2,000 people and generated $2.4 billion in revenues.[11] The North American unit had annual crude steelmaking capacity of 2.3 million tons, and a capacity of 3.5 million tons of finished steel for heavy industry.[12] Evraz operates twoelectric arc furnaces, inPueblo, CO, and inRegina, SK.[12]
In the immediate aftermath of the2022 Russian invasion of Ukraine, the British government accused the company of "providing financial services or making available funds, economic resources, goods or technology that could contribute to destabilising Ukraine."[13]
In March 2022 aftersanctions were applied to Abramovich, owner of 29% of the company,[14] theFinancial Conduct Authority suspended the trading of Evraz shares on the LSE.[15] The non-executive members of the board subsequently resigned.[14]
On 10 August 2022, Reuters reported that Evraz was seeking to sell its North American units.[16][17] At the time, the Regina mill was reported to employ 1,200 people.[18]
In September 2022U.S. Steel andNucor were reported to be interested in the North American assets. New York-based boutique advisory firm Three Keys Capital was named as the agent for the sale.[11] As a result of the2022 Russian invasion of Ukraine, Evraz was sanctioned and its shares delisted from the LSE.[19]
Evraz sets aside its coal business by the end of the year 2021 on the premise of all needed approvals, according to the group's report of the 1st half of 2021. In the very beginning of 2021 EVRAZ announced expecting to spin off its coal division consolidated in Raspadskaya. In April 2021, the group's board of directors approved the demerger of its coal assets to be shared pro rata among Evraz shareholders.[20] In January 2022, Evraz shareholders also approved the demerger of the group's coal business, consolidated at PJSC "Raspadskaya" after the final decision made by the board of directors of Evraz last December.[21]
The company's interests in the majority of its subsidiaries are held indirectly through its ownership of Mastercroft. In June 2006, Evraz Group announced a transaction that resulted in the transfer to Greenleas International Holdings of a 50% interest in Lanebrook Ltd., an entity controlled by the principal shareholders of Evraz Group.[2]
As of April 2015, Lanebrook Ltd. held 63.70% of the company's shares, with the ultimate beneficial owners beingRoman Abramovich (31.03%), chairmanAlexander Abramov (21.59%) and CEOAleksandr Frolov (10.78%).[2]
At the end of 2021, Roman Abramovich owned 28.64%, Alexander Abramov — 19.32% and Aleksandr Frolov — 9.65%, Gennady Kozovoy — 5.74%, Evgeny Shvidler — 2.7%.[24][25]
US$13.224 billion (2021)[1]
Media related toEvraz at Wikimedia Commons
