Abramovich buying 41% of Evraz

Mulhouse Capital, the investment vehicle of Roman Abramovich, has confirmed that it is buying 41% of Evraz Group, Russia's largest steel producer, for approximately $3.1bn, from core shareholders Alexander Abramov and Alexander Frolov. Roman Abramovich is Russia's richest man and owner of English Premier league soccer champions Chelsea. The negotiations were said to have started at the end of 2005 and in March 2006 it was reported that a 25% +1 share stake was under discussion.

Alexander Abramov, who owns 59% of Russia's largest steel producer is selling his shares, as is another...