Evraz considering demerger of its coal assets

Evraz said on Tuesday that it is considering a potential demerger of its coal assets.

The Russian steelmaker noted that its board regularly reviews strategic options "to maximise long-term value" for shareholders.

"Today the board has given approval for the company to consider the strategic merits of and possible structures for a potential demerger of its coal business," it said. "The potential demerger may allow Evraz to focus on developing its steel business and establish the coal business, currently consolidated under PAO Raspadskaya, as an independent leading regional producer of high quality metallurgical coal."

Evraz said the board was still evaluating various strategic options and there can be no assurances that a demerger will take place will. If it does, it would be subject to regulatory, shareholder and other third-party approvals.

"The board will keep shareholders updated as appropriate with further announcements," Evraz said.

At 1500 GMT, the shares were up 1.8% at 523.21p.