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South African steel producer Highveld Steel & Vanadium on Friday announced that the disposal of vertically integrated assets Vanchem and its 50% stake in South Africa Japan Vanadium (SAJV), to Swiss firm Duferco Investment Partners, would be effective from August 29.
The producer said in a statement to shareholders, that it had received approval from the European competition authorities, the South African competition authorities and the South African Reserve Bank, as well as the consent of the other shareholders of SAJV.
The Competition Tribunal earlier this month announced that it had approved the sale of the assets, which formed part of the European competition regulatory body's conditions of the 2007 Highveld Steel acquisition by Evraz.
mining vanadium steel acquisition
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