Otmane El Rhazi : Evraz Highveld sets Aug 21 target date for binding buy-out offers

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.

Embattled South African steel producer Evraz Highveld Steel and Vanadium reports that it has received a number nonbinding expressions of interest from potential investors and that “several” preferred bidders have been identified to participate in a more detailed bidding phase, which is designed to culminate in the receipt of binding offers by August 21. Business rescue practitioner Piers Marsden told Engineering News Online in an interview that the need for a strategic investor had been identified early on in the business-rescue process, which officially began on April 13.