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Severstal completes exit from North America with sale of steel assets
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Report summary
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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