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Severstal completes exit from North America with sale of steel assets

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23 July 2014

Severstal completes exit from North America with sale of steel assets

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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