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Abramovich's Evraz May Bid for Cape Lambert Today, Review Says

By Jesse Riseborough

July 21 (Bloomberg) -- Evraz Group SA, the steelmaker partly owned by Russian billionaire Roman Abramovich, may make a bid today for Cape Lambert Iron Ore Ltd., the Australian Financial Review reported, without saying where it got the information.

Evraz controls a 19 percent stake in Cape Lambert and may offer as much as A$1.10 ($1.07) a share for the company, the Review reported. Three of Cape Lambert's biggest shareholders in London, with about 20 percent of the stock, were approached with an offer of 90 cents a share over the weekend, the Review said, without citing anybody.

Evraz is seeking to prevent Cape Lambert selling its iron ore project to China Metallurgical Group Corp. for A$400 million, with a shareholder vote on the sale scheduled for next week, the Review said. Chinese interests may have also been buying Cape Lambert shares on market, the Review said.


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