BELONG SHAREHOLDER EXTENDS DEADLINE FOR EVRAZ TAKEOVER BY 6 MONTHS

摘要

Best Decade, the core shareholder on the Singapore-listed Chinese steel trader and producer Delong Holdings Ltd, has again extended its deadline for Russia's Evraz Group to take the company over by six months, until August 18, says a statement filed with the Singapore exchange. The statement says the Chinese Ministry of Commerce (MOFCOM) is still reviewing the takeover, the deadline for which expires on February 18. Evraz, which owns 10 percent of Delong, is waiting for the necessary regulatory approvals to acquire a controlling stake. Best Decade already agreed to extend the deadline for Evraz to close its takeover of Delong until February 18, 2009 because Evraz had not yet obtained clearance from the Chinese regulatory authorities to buy the controlling stake.