Best Decade Holdings Ltd. entered into a sale and purchase agreement to acquire an additional 17.3% stake in Delong Holdings Limited from EVRAZ plc and Vollin Holdings Limited for approximately $100 million.

Best Decade Holdings Ltd. entered into a sale and purchase agreement to acquire an additional 17.3% stake in Delong Holdings Limited (SGX:BQO) from EVRAZ plc (LSE:EVR) and Vollin Holdings Limited for approximately $100 million on June 1, 2018. Under the terms of the agreement, EVRAZ plc and Vollin Holdings Limited will sell 16.6 million and 2.5 million shares respectively. Post closing, Best Decade Holdings Ltd's stake in Delong Holdings Limited will increase from 58.2% to 75.6%.

The transaction proceeds will be applied to general corporate purposes by EVRAZ plc. Ng Melissa Li-Shen, Lin Tom, Kong Elizabeth Sau Wai, Kaosala Vipavee, Chan Ivan Kar Fai, Lit,Jonathan Wei En of Clifford Chance acted as legal advisor to EVRAZ plc.