UPDATE 1-Russia's Evraz proposes tender offer to owners as core earnings rise

April 1, 2015 6:39 AM

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MOSCOW, April 1 (Reuters) - Russia's Evraz, one of the country's largest steelmakers, will return up to $375 million to its shareholders as part of a tender offer, it said on Wednesday, after its 2014 core earnings rose on a weaker rouble.

Margins at Evraz and other Russian steel exporters have been supported by a 40-percent decline in the rouble against the dollar since mid-2014 as their costs fell in dollar terms.

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