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Severstal completes exit from North America with sale of steel assets

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Russian steelmaker Severstal announced 21 July 2014 that it will sell its North American steel operations to AK Steel and Steel Dynamics in separate deals totalling US$2.33 billion. AK Steel will pay US$700 million in cash for Severstal s Dearborn steel plant and its associated cokemaking and rolling JV operations; while Steel Dynamics will acquire the company s Columbus Mississippi EAF operation for US$1.63 billion in cash and debt.

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    Severstal completes exit from North America with sale of steel assets

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