CREW GOLD CORP : severstal devient majoritaire a 50.2%

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01 août 2010 •13:16

UPDATE 1-Severstal gains majority stake in Crew Gold
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OAO "Severstal' "
CHMF.MM
руб358.00
-14.21-3.82%
12:00am UTC+0200
Crew Gold Corporation
CRU.TO
$0.28
+0.01+3.70%
12:00am UTC+0200
Crew Gold Corporation
CRU.OL
kr1.66
+0.00+0.00%
12:00am UTC+0200
Tue Jul 27, 2010 10:57am EDT

* Severstal purchased 209.4 mln more shares at C$0.3509/shr

* Russian co now holds 50.2 percent of Crew Gold

(Adds detail)

MOSCOW, July 27 (Reuters) - Severstal (CHMF.MM), Russia's largest steelmaker, said on Tuesday it had raised its stake in gold miner Crew Gold (CRU.TO)(CRU.OL) to 50.2 percent, adding to its fast-growing gold business.

As of July 20, Severstal held about 40.4 percent in the Oslo and Toronto-listed company, and the Russian steelmaker said it had bought a further 209.4 million shares for C$0.3509 each, or about C$73.5 million. [ID:nSGE66J0HZ]

Severstal's first-half gold output grew 16 percent to 259,993 ounces year-on-year, as the company expands its three-year-old gold mining business, which already has operations in Russia, Kazakhstan and Burkina Faso. (Reporting by Alfred Kueppers; editing by Dmitry Sergeyev and Will Waterman)