DELONG SHAREHOLDER EXTENDS EVRAZ DEADLINE

摘要

Best Decade, the core shareholder in Chinese steel producer and trader Delong Holdings, has agreed to extend the deadline for Russia's Evraz Group to close its takeover of Delong until February 18, 2009 because Evraz has not yet obtained clearance from the Chinese regulatory authorities to buy a controlling stake, Delong said in an August 18 statement filed with the Singapore Stock Exchange. Evraz signed a deal in February to buy 51 percent of Delong Holdings for 762 million US dollars and said it could in time increase that stake to 100 percent in what will be the Russian steel major's first acquisition in the Asia-Pacific region.